December 3, 2018 - Michaels Cos. Inc. (MIK) was pitched as a short by Cruiser Capital’s Keith Rosenbloom at the 2018 Kase Learning Shorting Conference.
We believe that margins for the company’s framing business will decline due to increasing online competition. The framing business makes up 15 percent of revenue and 33 percent of the net income. Meanwhile, Blackstone and Bain, the biggest owners of shares, have been trimming their respective positions.
Watch the complete Michael's Stores (MIK) short presentation by managing partner Keith Rosenbloom of Cruiser Capital here:
The adjoining slide deck to the video presentation is available to download at:
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