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TROY, MICH. - The task of turning around Frank's Nursery & Crafts is in the hands of Bruce Dale, a craft retailing veteran who guided the revival of art supply and framing chain Aaron Brothers, a division of Michaels Stores.
Dale was recruited following the resignation last fall of former ceo Steve Fishman. A 10-year veteran at Michaels Stores, Dale served the bulk of his tenure as president of Aaron Brothers, which the company bought in 1995.
Though he will miss Michaels, Dale said he was looking forward to the challenge of reviving the ailing Frank's, which exited bankruptcy last May but continues to lose money and suffer negative comparable-store sales. A five-year trend of declining sales drove the chain bankrupt in early 2001.
In its first uarter as a reorganized company, Frank's reported revenue growth, but the next quarter ended in November saw a return to the negative trend, with overall sales from 170 stores...