"Michaels Stores announced yesterday it plans to discontinue its concept businesses, Recollections and Star Decorators' Wholesale. The company anticipates closing 11 Recollections and three of its four Star locations by the end of the first quarter of fiscal 2008. One Star location will continue operations under the Moskatel's banner. In connection with this decision, the company expects to incur approximately $11 million to $14 million in incremental charges as a result of lease obligations, inventory liquidation, asset-related write-downs, and severance benefits, with a majority of the charges being incurred in the third quarter of fiscal 2007."
This article by Craftrends. http://craftrends.com/
I am never happy to hear news of store closures, but this one is a little different for me. I was so worried about Recollections taking over and putting all the mom and pop scrapbook and stamp stores out of business that it is nice to be reminded that the corporate world doesn't always win out! Here's to the little guys....Let's go shopping!!! Go out and support your local, independent stores!
Sometimes we have preconceived prejudices we didn't even realize we had. I was shocked when I learned that a site I discovered this morning, as well as all the great samples and tutorials it contains, are the creative talents of a young man! Watch out Tim Holtz, there is a new guy on the horizon!!! Check his great site out at: http://www.stampinkub.com/
Okay, I didn't learn this today, but I was reminded of it as I bit into a Costco chocolate muffin. One of my girlfriends recently figured out that these muffins (the chocolate ones) contain 900 calories a piece!!! Ugh! I guess I'll have to live on fruit for the rest of the day because...it's here, it's already prepared, and I'm eating it anyway!!! :)
enjoy what life teaches you today...
-dw
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