Oh good, another reason to spend an unreasonable amount of time inside a craft store. Photo: Naheed "In Stitches" Rajwani-Dharsi/Axios
Joann is no longer in business, but the company's yarn, fabric and crafting supplies live on at Michaels locations.
Why it matters: Irving-based Michaels is hoping to boost sales by attracting Joann fans.
Driving the news: Last month, the company rolled out two new shop-in-shop concepts — The Party Shop and The Knit & Sew Shop — at more than 1,300 stores.
The Knit & Sew Shop expands fabric options at hundreds of stores. Joann's Big Twist yarn is coming this month.
Catch up quick: Michaels acquired Joann's intellectual property and private label brands in June after Joann closed all its stores.
Threat level: Michaels wants fuel for its turnaround, even as it contends with trade risks and the same retail headwinds that sank Party City and Joann.
Michaels CEO David Boone tells Axios the company is leaning on supply chain efficiency to blunt the impact of tariffs and inflation.
