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Update | Stamp Presses, Craftsy, Deals, Sneak Peeks, Jobs, & More

Peeks. Next week is the AFCI Mixed Media show in Salt Lake City, and that means it is time for our sneak peeks page of summer releases! Click here to check out the Summer 2017 sneak peeks page, and watch for more updates this weekend and also next week as more products are unveiled. (Also, coming soon: features rounding up previews of the Christmas and Fall/Halloween lines, so if you’ve got one to share, send it to nancy at nallystudios.com)

Changes. It’s hard to believe, but Elsie Larson and Emma Chapman are celebrating the 10th birthday of their website A Beautiful Mess this week. Along with the celebration, they made a big announcement: A Beautiful Mess is ending its arrangement at the end of August with Inked to  produce and handle orders for their products. (Inked is the parent company of Studio Calico). The Happy Mail and Messy Box subscriptions will be going on hiatus during the transition to new arrangements, and the pair promises exciting news coming soon about future plans.

Neutrality. Etsy was among the major internet sites taking part yesterday (July 12th) in a day of action to support net neutrality regulations enacted by the Obama administration – which are now under threat by the Trump administration’s FCC. Etsy spent the day displaying a special banner as part of their rotating box at the top of the site. Clicking the banner took site visitors to a special page on the Battle for the Net site that lets Etsy store owners send a message to the FCC explaining how ending net neutrality will hurt their businesses.

Etsy Net Neutrality

What is net neutrality, and what is all of the fuss about it? To quote Google, net neutrality is “the principle that Internet service providers should enable access to all content and applications regardless of the source, and without favoring or blocking particular products or websites.” Put bluntly, net neutrality helps prevent your internet provider from holding your access to small sites like this one hostage – or relegating it to a slower access lane – because we haven’t paid them for access. Net neutrality is also an important way of way guaranteeing that, for instance, Comcast won’t try to force you to watch the cable and network tv assets that they own by choking off the streaming access of (or charging exorbitant fees for access to) digital competitors like Netflix and Amazon. In the craft world, net neutrality is an important part of the marketing process, as a large portion of marketing in the industry has moved to digital platforms like blogs, social media, and YouTube.

Presses. The stamp press wars are heating up again, as both We R Memory Keepers and Tonic Studios are coming to market simultaneously with revised competitors to the MISTI. The MISTI has been the only stamping press on the market since its patent was granted in April and legal action resulted in the pulling from store shelves of products from Hampton Art and We R Memory Keepers. Legal action also delayed the release of the Tim Holtz Stamp Press from Tonic Studios, who is still mired in litigation with MISTI manufacturer My Sweet Petunia over alleged patent infringement by their original design.

The revised version of the We R Memory Keepers stamp press, called the Precision Press Plus, is currently available exclusively on HSN. The special HSN package retails for $44.95 and includes several stencils and stamp sets to use with the press. What is new about the Precision Press Plus, versus the previous Precision Press, is that the press comes with three interchangeable lids. One is the familiar one from the previous press to use for stamping, and one has channels for sliding in small alphabet stamps for stamping envelopes. The third “lid” is not a lid at all but a clipboard clip to hold stencils in place on the press’s work surface.

No word yet on details of the revised Tonic Studios Tim Holtz stamp platform. A photo of boxes of it at the Carson Stamp Show, where the platform was first offered for sale, was posted on instagram last week by Mario Rossi. It’s also shipping from Scrapbook.com. [affiliate link]

Education. It’s being reported by Abby Glassenberg at Craft Industry Alliance that Craftsy is planning to offer a subscription  model in 2018. It’s unclear at this time whether this will replace their current à la carte pricing model or be an addition to it.

Changing pricing models on customers always comes with risk of backlash. Craftsy would do well to learn from the experience of Big Picture Classes. That company switched to a subscription model and ended “forever” access to previously purchased classes after its purchase by Studio Calico, causing a huge uproar from customers.

Deals. Bella Blvd is hosting an online warehouse box sale for its Illustrated Faith brand on Monday, July 17th starting at 9am CT. Boxes with a retail value of $191 will be available for $49.50 plus shipping. U.S. shipping will cost $12, and priority shipping to Canada will be $45. (Elsewhere in the world, shipping cost will be $60.) Visit the Bella Blvd website to take part in the sale.

Online retailer A Cherry On Top is holding a warehouse sale at its warehouse in Saginaw, Michigan this Saturday (July 15th) from 9am-4pm. For all the information about the location, and tips to make your shopping more efficient, visit the sale information page.

Events. Etsy will be holding “Etsy Community Market” events in Australia on July 29th.  Local showcases in Brisbane, Sydney, Canberra, and Adelaide will gather together some of the best of the Etsy marketplace in Australia to promote their creative products in person to shoppers. To get details on locations and times of the event in each city, visit the Etsy Australia blog.

Apps. Persnickety Prints, the favorite photo printing service of many scrapbookers (including this one!) has announced that customers can now upload photos from any web browser. Previously, photos could only be uploaded to the site from the company’s phone app. This change makes Persnickety much more accessible to dslr shooters and photographers who edit their photos in programs such as Adobe Lightroom. It means these photographers will no longer have to transfer their photos back to their phones after editing or use a solution like dropbox to upload from their mobile devices. (Excuse me while I go do a few cartwheels.)

Jobs. The following craft industry jobs are currently posted as available:

(Above is just a selection of the 51 jobs currently listed on the Michaels website. Click here to view them all.)

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Update | Michaels, Hobby Lobby, Celebrities, Layoffs, Jobs & More

Crime. One of the culprits behind the 2011 payment card data breach at some Michaels Stores pled guilty recently to two charges related to the crime, which involved installing 88 counterfeit PIN pads at 80 Michaels Stores locations in 19 states. As many as 94,000 cards were believed to be compromised in the breach.

According to a press announcement from the U.S. Attorney’s Office for the District of New Jersey, Angel Angulo pled guilty in Federal Court in Camden, NJ on June 20th to conspiracy to commit bank fraud and aggravated identity theft. The conspiracy to commit bank fraud charge carries a potential sentence of 30 years in prison (plus a $1 million fine). In addition, the identity theft charge carries a mandatory 2 year sentence, which must be served consecutively to the bank fraud charge sentence. Sentencing in the case is scheduled for September.

Another conspirator in the fraud, Crystal Banuelos, pled guilty in 2015 to similar charges, and is still awaiting sentencing. She also consented in her plea to a forfeiture of $480,300 which is believed by prosecutors to be proceeds of the crime.

Crime II. Ivette Rodriguez, an attendee at Stampfest in Orlando over this past weekend, is being hailed as a hero by exhibitor Marco’s Paper and Crafts after she caught two people attempting to shoplift in their booth. Later in the day, in perhaps proof that the arc of the universe bends towards justice after all, Rodriguez won one of the event’s door prizes – a gift certificate to Marco’s Paper and Crafts.

Celebrities. Does your favorite Etsy seller have a secret – famous – identity? According to several news stories this week, Etsy apparently has some celebrity crafters lurking among its store owners. Singer Adele told a Wembley Stadium crowd recently that she has a secret hobby of making pom poms and selling them on Etsy. Also, Tila Tequila recently opened her own Etsy shop to sell her paintings through. (And of course, it’s not new…but who could forget Snooki’s Etsy shop?)

Celebrities II. Julianne Hough, of Dancing with the Stars fame, had her wedding shower last week for her wedding this Saturday to hockey player Brooks Laich. The event was thrown in Hough’s native Utah by her sister Sharee, who brought in Heidi Swapp to help plan and design the event. Hough’s blog contains an extensive recap of her wedding shower, including details on how Heidi incorporated her Design Boards and Instax products.

Books. Proving that trend is still going strong, designer Erin Bassett has a new book coming out September 5th called [Amazon affiliate link] The Art of Bible Journaling. The book is being published by Get Creative 6, an imprint of Sixth & Spring, which is a division of SoHo Publishing.

Layoffs. Etsy, for the second time this year, has announced that it is laying off staff. This second round of layoffs will include approximately 140 positions (or 15% of its workforce), making a total of 230 (or 22%) of its workforce laid off in 2017 based on end of 2016 employee numbers. The current round of layoffs will primarily be of marketing and product management staff as well as general & administrative positions. Most affected employees will come from the ranks of the company’s Brooklyn headquarters.

Etsy has not fared well with investors since its IPO in April 2015. Debuting at $16/share, the company briefly traded over $30/share before beginning to drop in value. Trading below $7 at one point in early 2016, the stock has been making a volatile climb back up. But as of today, it is still trading at $14.63, well below its IPO value 27 months ago.

Travel. If you are traveling to Creativation in Phoenix in January 2018, and your driver’s license is from Kentucky, Maine, Minnesota, Missouri, Montana, Oklahoma, Pennsylvania, South Carolina, or Washington, you will need an alternate form of ID in order to travel home by air (starting on Jan. 22nd, 2018). Starting on that date, state ID from those states will no longer be valid for use for Federal purposes such as entering TSA checkpoints in airports, due to those states’ failure to implement the Federal REAL ID law that was passed on recommendation of the 9/11 Commission. Residents of those states will need to supply alternate ID, such as military ID, a green card/permanent resident card, or a passport, to be able to pass through airport security when traveling. It is recommended that if you need to apply for or renew a passport in the coming months, that you do so early, as the State Department expects a higher than normal level of applications due to REAL ID implementation in 2018.

Fees. Photobucket, in a stealth update to its terms of service, implemented major changes that now limit the ability to link to images hosted on the site from 3rd parties. This ability – which was previously available to all accounts, including free ones – is now limited to the service’s “Plus 500” level of account, which costs $399/year (or $39.99/month).

Linking to graphics hosted on free Photobucket accounts has long been a popular way on the internet of displaying message board images, and of hosting blog graphics to circumvent bandwidth and storage limits on blog hosting accounts. This change by Photobucket has resulted in a millions of images all over the internet now displaying instead as a Photobucket error graphic – being referred to as a ransom graphic by some. In many cases, the refusal of PhotoBucket to serve hosted images that have been linked has totally destroyed the usability of the associated content on blogs and message boards. In the crafts industry, this is especially true of one of the most affected sites – Etsy – where listings without photos are virtually useless.

Changes like this are why I always recommend to bloggers that their graphics be hosted on their own blog host. Linking to graphics on 3rd party sites carries the risk that those links could be cut off at any time. Especially risky is linking to images on accounts controlled by other people, such as design team members, who may choose to delete those accounts or images at any time for any reason.

Events. Ali Edwards has announced a second Story Camp in Eugene, Oregon fot October of this year. Registration opened  on June 27th, but bad news if you are interested in going – all 35 slots are already sold out!

Settlements. The U.S. Attorney’s Office for the Eastern District of New York announced yesterday that it has filed a civil complaint against Hobby Lobby, alleging the company smuggled Iraqi antiquities into the U.S. in 2010. According to the government, Hobby Lobby spent $1.6 million in Dec. 2010 to purchase 5,500 antiquities from a dealer in UAE. The company proceeded with the purchase, allegedly, despite having been warned by a consultant they had retained about several red flags in the transaction that indicated the antiquities may be looted Iraqi objects. The antiquities were then shipped to the U.S. without proper customs paperwork, and labeled as “ceramic tiles” or “clay tiles (sample)” that originated in Turkey. Some of the shipments were seized by U.S. Customs, and further shipments originating in Israel were seized the following year.

cuneiform tablet forfeited by Hobby Lobby

International law enforcement agencies are highly interested in stopping illegal trade in antiquities from Iraq and other locations in the Middle East because selling looted antiquities is widely believed to be one source of funding for the ISIS terrorist network.

In a stipulation of settlement that was filed with the complaint, Hobby Lobby agreed to forfeit thousands of artifacts it had illegally imported, and pay a $3 million fine to settle the case. In addition, the company agreed to implement changes in the way it will acquire future antiquity purchases and to submit quarterly reports to the government of their purchases for the next 18 months to ensure that such transactions are legal. “We should have exercised more oversight and carefully questioned how the acquisitions were handled,” said Hobby Lobby President, Steve Green. “Hobby Lobby has cooperated with the government throughout its investigation, and with the announcement of today’s settlement agreement, is pleased the matter has been resolved.”

Jobs:

 

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American Crafts Acquiring Die Cuts With A View Paper Division

American Crafts has announced that it is acquiring the paper division of competitor Die Cuts With A View (aka DCWV), which is well-known to many papercrafters for its paper pads sold under the Stacks brand name.

Provo, Utah-based Die Cuts With A View, which was founded twenty years ago by Nancy Hill, has large amounts of shelf space in national craft chains with their Stacks pads of patterned paper. Some of the pads are specialty paper featuring glitter and other decorative elements.

In addition to the DCWV paper crafts division, American Crafts has also acquired the company’s letter board product line.

In the announcement, American Crafts CEO Wayne Mitchell expressed the company’s excitement to have the Stacks brand under the American Crafts roof. “Over the years, Mike and Nancy Hill have done an outstanding job of building the amazing Stacks® brand,” says Mitchell. “Their products have influenced thousands of crafters’ creativity, and American Crafts is proud to continue their legacy by offering Stacks® and the letterboard to the crafting market.”

Mike Hill, CEO of Die Cuts with a View Acquisition Corp, said in the acquisition announcement that American Crafts will make a good home for building the DCWV brand’s future: “American Crafts is a company that’s well respected in the crafting industry, ” says Hill. “Over the years as the market landscape has changed, many wonderful crafting brands have found a soft landing place there, where they’ve continued and flourished. We expect that tradition will continue with the DCVW brand.”

DCWV Letterboard

DCWV Letterboard

The acquisition of the DCWV letterboard product gives American Crafts two letter board products, since Heidi Swapp launched a similar product at the January 2017 Creativation trade show. The design style of the two products, however, is drastically different. The Heidi Swapp boards, available in 3 sizes, are portrait shaped and all white, with an almost elegant look to their black and gold text elements (some of them in script). The wedding and party market appears to be a prime market for that product. In contrast, the DCWV letterboard has a landscape shape and less formal colors, with design elements (including trendy emojis and other graphic elements) available in a wide variety of colors.

Heidi Swapp Letterboard

Heidi Swapp Letterboard

The DCWV Home and Blue Moon Beads brands were not part of the acquisition by American Crafts. Those segments of Die Cuts With A View Acquisition Corp were purchased by New View, according to the announcement. (I believe this probably refers to New View Gifts, a Pennsylvania based gift and home decor company whose products are available from retailers such as Amazon, Wayfair, and Kohl’s. New View Gifts registered a new presence in Utah the day of the announcement of the DCWV sale.)

American Crafts will continue to produce paper crafts products under the DCWV brand, and many of the brand’s key designers and product developers will be continuing with the brand as it moves forward under American Crafts.

Retailers can begin ordering DCWV paper crafts products from American Crafts immediately, and shipping of DCWV products will begin from American Crafts’ warehouse after a 7-10 day transition.

American Crafts has been over the years acquiring an immense portfolio of recognizable paper crafts brands. They started slowly, with the acquisition of Pebbles in 2009 and then Crate Paper in 2011. Licensing deals were signed with Studio Calico in 2011 and Project Life in 2013. But then in 2013-2014, American Crafts went on what can only be described as a buying spree. Between July 2013 and June 2014, the company acquired Bazzill, We R Memory Keepers, Pink Paislee (& the Heidi Swapp license), and Imaginisce. After the licensing deal with Studio Calico ended in the past two years, it appears American Crafts is looking to expand its portfolio again, first purchasing Core’dinations brand from Darice earlier this year and now adding the DCWV brand.

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Update | Amazon, Prima, Jobs, Events, Trends, & More!

Losses. Condolences to the family and friends of Jeff Murphy, known to many in the industry after his thirteen years in sales at EK Success/Wilton Brands that ended last year. Murphy passed away last week in a hiking accident in Yellowstone National Park.

Openings. Hobby Lobby has set the (tentative) opening date of its new store in the Ozark Crossing strip mall in Harrison, AR for August 7th. The store is expected to hire between 30 and 50 workers.

Costs. Users of Intuit’s Quickbooks Online accounting software service are being notified about upcoming price increases that will go into effect in July for users. The price for the Quickbooks Online Plus level of service will increase from $39.99 to $50 per month. Suggestions for replacements include Sage, Xero, and Less Accounting.

Changes. Amazon has announced to affiliates that it is retiring the aStore tool in its affiliate program due to low usage and poor conversion rates on the tool. Starting on July 14th, new aStores can no longer be built, and on August 11th existing stores will no longer be able to be edited. The feature will be completely retired on October 27th, at which time all aStore links will redirect to the Amazon.com home page.

Ventures. Toronto-based Scraptime host Christine Urias is branching into food art, marketing a line of candy through her new company Sweet Artisan Candies. https://shop.amytangerine.com/subscribe

Designer Laura Bray is preparing to launch a line of stamps in her signature style later this month under the Laura K Bray Designs brand name, available through her website. To get a sneak peek of one of the set, visit her blog.

Events. AFCI President Mark Hill attended the 41st Japan Hobby Show put on by the Japan Hobby Association in April, and shares an interesting look at the event and trends seen at the show on the AFCI blog. Some of the trends seen may be regional while some may be harbingers of things to come in other parts of the world.

Alt Summit has announced their 2018 event dates. The 2018 Alt Summit will take place from February 26th-28th at the Saguaro Hotel in Palm Springs, CA. Registration begins on Wednesday, June 21st

Alt Summit 2018

Trends. Trend Curve is predicting that pink will be a hot trend for the Christmas holidays for 2018-2019. Also, Quilt Market’s e-insider has a look at trends from Spring Quilt Market for quilt fabric, which often shares design and color trends with scrapbook paper and embellishments.

Fun. Maybe it’s because he didn’t get the memo that scrapbookers think cats are trendy and cool…but whatever the reason, Garfield the Cat has been poking fun at scrapbooking.

Teams. Prima Marketing has design team calls open for their Design, Mixed Media & DIY, and My Prima Planner teams through June 30th. For information on how to apply for the teams, visit the Prima blog.

Jobs. The following industry positions are listed as open and taking applications:

Financial:

Sourcing:

Design:

Marketing:

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Update | Stampin’ Up, Michaels, Hobby Lobby, Jobs & More!

Color. June means a new Stampin’ Up! annual catalog, and with it a new edition of the trend-based “In Colors” that are added each year to the Stampin’ Up color palette for a two year limited edition. Of note this year is that the palette is completely pink and green in shade: Fresh Fig, Berry Burst, Powder Pink, Tranquil Tide, and Lemon Lime Twist.

2017-2019 Stampin Up In Colors

Endings. Craft Ideas magazine is ceasing print after over 40 years in production. The Summer 2017 issue will be the magazine’s final one. Editor Molly Goad told readers in a letter published on the magazine’s blog that the company is looking for strategic partners to continue the magazine, but has no certain relationships at this time. Best wishes for the future to their talented staff . some of whom I’ve previously worked with – from the Scrapbook Update family.

Redesigned. Tonic Studios has issued an update to its customers indicating that it plans to ship a redesigned version of the Tim Holtz stamp platform beginning the week of July 9th.

As we move to catch up with the demand for the product we will be releasing the incoming shipments on a first come first served basis based with our retail partners on when we received the orders. We will be confirming the expected delivery date to each of our retailers within the next 7 days. The first shipments we expect to be dispatched on the week of 09 July with the second delivery to be on the week of 16 July. We are working to improve this wherever possible; however, we want to provide a clear and realistic route to completion. We also want to be realistic that the product will be entering the country during the holiday period which may involve additional small delays. These dates are when we will receive product into our warehouse in California so there may be a few more days to get the product to the partners and then onto the consumers.

Shows. Hotel reservations are open for Creativation 2018, which takes place in Phoenix from January 18th-22nd, and badge registration begins on Tuesday, June 13th.

Crime. According to a report in the Santa Clarita Valley area publication The Signal, the assistant manager of the Hobby Lobby store in Saugus, California has been arrested on child pornography charges. Donald Anthony Little has been charged with two felony counts related to alleged sharing of child pornography images online, and with being in possession of more than 600 child pornography images on his laptop computer. Little is free on bail pending his arraignment on June 22nd.

Neighbors. The White Sands Mall in Alamogordo, New Mexico, is losing its major tenant with the impending closure of the Kmart that has been there since 1976. However, the owner of the property told the Alamogordo Daily News that his company isn’t worried about filling the space, and has over a dozen prospective tenants lined up to tour the space. What’s the draw, in an era of dying malls? The mall will be breaking ground this month on a new Hobby Lobby next to the soon-to-vacant Kmart. “A lot of merchants, it appears, love to be next to Hobby Lobby,” Griffith told the paper.

Earnings. Michaels Companies held its earnings call for the first fiscal quarter of 2017 on Tuesday morning (June 6th) before NASDAQ market open. Net sales were flat for the quarter, with comparable same store sales down 1.2%, due the company said to a decrease in average purchase ticket. Gross profits, though, were up .6%, due to an accounting adjustment from the Lamrite West acquisition and increased margins (from the expansion of the company’s store branded merchandise lines). Michaels held its fiscal year 2017 expectations the same overall at net sales growth of 2.2% to 3.7%, and says that it expects that in the 2nd quarter same store sales will be down .5% to 1.5% (or flat to down 1% on a constant currency basis). The company plans to open four new stores in the quarter, relocate two others, and close four Aaron Brothers stores.

Michaels stock (NASDAQ: MIK) did not react well to the news from the Tuesday earnings call. It had been trending upward on Monday the day before the earnings call, closing up $.28 on the day at $19.83. Opening at $18.91 on Tuesday due to losses in after hours trading, after the morning earnings call the stock dropped hard and closed at $18.16. This was followed by an additional drop to $17.51 by close on Wednesday, a total loss of over 10% in value over Tuesday and Wednesday. Today, the stock started trending back upwards, closing up $.81 at $18.20.

New. American Crafts is launching a new decorative food collection with Sweet Sugarbelle in Michaels Stores. The line will include stamps and cutters and dough die, along with edible coloring book pages and paint palettes, to create decorative cookies.

Peek. If you are fan of artist Katie Pertiet, you might appreciate this profile with a peek into her studio and thoughts on design in a profile done for the blog of art licensing company Wild Apple.

Jobs. The following industry jobs are currently posted as available:

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Update | Michaels, Studio Calico, Jared Leto, Sew Sweetness & More!

Dream Job. For many crafters, the dream job is to get a staff designer position where they get paid to craft to produce project samples all day. Find out from three of Cricut’s staff project designers how they got where they are, and what the job is really like in this fascinating behind the scenes article.

Sizzix Sew Sweetness Box Pouch

 

Designers. Sizzix used Quilt Market last month to announce the launch of their new collaboration with “Sew Sweetness” blogger Sara Lawson. Lawson’s three new Bigz L Dies, which retail for an MSRP of $29.99 each, will launch this month. The three new dies create a box pouch (pictured above), coin purse, or purse tabs. For more information, visit the Sizzix website.

Designers, part 2. Tammy Tutterow has announced a partnership with StencilGirl to make signature stencil designs. The initial release of 9 designs includes 7 two-step stencils that create layered designs such as flowers and plaid.

Exclusives. Joann Fabric & Crafts stores are getting four new exclusive kits to add to their large Project Life offerings. There’s “Lullaby”, a value kit available in boy and girl versions, as well as a recipe card value kit and matching album. There’s also an exclusive core kit called “Modern Wedding”.

Mixed Media. Designer Anna Dabrowska has announced that a selection of products from her popular Finnabair mixed media line made by Prima Marketing is hitting the shelves at Michaels Stores. The selection includes rust paste, patina paste, mixed media essentials, glitter, and more.

Trends. Slime is hot this summer and according to Adweek, the trend is paying off huge for craft brands like Michaels Stores and Elmers that have committed heavily to it. My own local Michaels store has an end cap right by the register area in the seasonal section containing gallon sized containers of Elmer’s along with all sorts of additives and other slime accessories.

Marketing. The wedding market is highly competitive, and content marketing continues to become more and more important. How important? Blogger network Aisle Society has just completed a successful $30,000 Kickstarter campaign to create an online tool to make submitting products and content to their more than 30 top wedding bloggers simpler and more streamlined for companies. The tool, called Matchology, will launch later this month, and cost $69.99 a year to use.

Equity. Kentucky-based Inked Brands – better known to most scrapbookers as Studio Calico – has raised $4 million in Series A equity funding. The equity was raised from BIP Capital, whose portfolio also includes companies like Tropical Smoothie, Huddle, and a variety of technology and health companies. Inked Brands was founded in 2007 by April Foster, and creates products for influencer brands such as Ali Edwards, A Beautiful Mess, Baby Boy Bakery, and Tom Kat Studio in addition to their in-house brand Studio Calico.

Equity, part 2. Digital education platform CreativeLive has raised $25 million in Series C funding from a combination of investors that include GSV Acceleration, Creative Artists Agency, Greylock Partners, Jared Leto, REV, Richard Branson, and Social Capital. (Now there’s a few names I thought this site would never have Google results for…) This raises to $58.8 million the company’s total funding. Part of the new funding will be used to extend CreativeLive more into the enterprise market.

Earnings. Michaels Stores will be reporting its first quarter earnings on Tuesday (June 6th) before market open, followed by a conference call at 8am central time. For information on how to take part in the conference call, visit the Michaels website.

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