Are Michaels' Strong Results a COVID-19 Mirage?

Michaels Companies' (NASDAQ: MIK) results rebounded nicely in its most recent quarter. After the pandemic forced the arts and crafts retailer to close its stores earlier in the year, customers who had been largely stuck at home came back and made purchases when those stores reopened.

But before this surge, Michaels had been going through tough times that led to the stock losing more than half its value over the last three years. Can the company maintain this newfound performance and reward shareholders?

Image source: Getty Images.

Source Fool.com