Tuesday Morning has named former Michaels Stores president and CEO, Michael Rouleau as its interim CEO.

Michaels Stores reported a second quarter same-store sales increase of 2.9% driven by a 3% increase in transactions and a positive impact of 0.9% from deferred custom framing revenue partially offset by a 1% decrease in average ticket.

Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars."

After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised.