AI news brief
Michaels Crafts an Unlikely Comeback Under Apollo
Financial Post - Banking - 2026-07-07
AI Summary
Michaels has undergone a significant turnaround under Apollo's ownership, marked by strategic acquisitions and store re-imagining to enhance customer experience. The company's bonds have recovered significantly, and first-quarter sales and adjusted EBITDA showed double-digit growth. While leverage remains a credit consideration, positive free cash flow is projected for 2026.
Key takeaways
- Michaels' bonds recovered from distressed levels to near par.
- The company reported double-digit growth in sales and EBITDA.
- Positive free cash flow is anticipated for 2026.
What this could mean for homebuyers
Mortgage news can affect fixed rates, variable-rate expectations, affordability, and buyer timing. Use this article as context, then compare today's rates or ask the AI Mortgage Advisor how it applies to your situation.