By Jessica DiNapoli
March 22 (Reuters) - Michaels Companies Inc willshut down its 94 Aaron Brothers framing and art supplies stores,the largest
The move is the latest example of how brick-and-mortarretailers are struggling to compete with e-commerce sites suchas Amazon.com Inc. More than 15 U.S. retailers filedfor bankruptcy last year.
The arts and crafts retailer plans to make Aaron Brothers astore-within-a-store and to provide custom framing in allMichaels stores. Michaels owns and operates about 1,300 storesin
Aaron Brothers reported
Reuters first reported Michaels' decision to shutter AaronBrothers stores on Wednesday.
Michaels' shares fell 8 percent in morning trading onThursday after its earnings disappointed investors.
Aaron Brothers shops are located largely on the
Michaels acquired Aaron Brothers in 1995, when the frameretailer was a 71-store chain, expanding the number of storesover the years.(Reporting by Jessica DiNapoli in