Michaels Names Chuck Rubin Chief Executive Officer

Mr. Rubin joined Ulta Beauty as Chief Operating Officer in May 2010, assuming the position of President and Chief Executive Officer later that year as part of a planned CEO succession process.  Prior to that he spent six years with Office Depot where he served as Executive Vice President and Chief Merchandise and Marketing Officer, rising to President North American Retail.

Matt Levin, Managing Director with Bain Capital Partners, LLC, and Peter Wallace, Senior Managing Director with The Blackstone Group L.P., jointly commented: " Chuck Rubin is a proven leader in the retail industry with an impressive track record of success across a broad range of businesses and executive roles.  We are thrilled to add an executive of his caliber to lead the Company and its talented and deep management team.  We also want to thank Lew Klessel of Bain Capital and Chuck Sonsteby for their dedication and work as members of the Office of the CEO, which has provided valuable leadership continuity for the Company during this interim period."

Michaels Stores, Inc. is North America's largest specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. As of February 14, 2013, the Company owns and operates 1,099 Michaels stores in 49 states and Canada, and 126 Aaron Brothers stores.

Contacts:

Media: Michael Fox 203-682-8218 [e-mail]

Investors: Farah Soi 203-682-8200 [e-mail] Joseph Teklits [e-mail]

Thomas MelitoVice President - Treasurer(972) 409-1527

SOURCE Michaels Stores, Inc.

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