Kirklands Stock Price, News & Analysis

Kirkland's Home (Nasdaq: KIRK) reported Q2 2024 financial results with net sales of $86.3 million and a comparable sales decrease of 1.7%. The company saw a 1.8% growth in comparable brick-and-mortar stores but faced a 10.6% decline in e-commerce sales. Gross profit margin expanded by 100 bps to 20.5%. The operating loss improved by $4.8 million to $13.3 million, while adjusted EBITDA loss improved by $3.3 million to $10.2 million. Kirkland's ended the quarter with 325 stores, a cash balance of $4.5 million, and $62.7 million in outstanding debt. The company implemented cost-saving initiatives expecting to realize $6 million in savings for fiscal 2024 and $7 million in ongoing annual pre-tax savings. Kirkland's is also reviewing strategic alternatives to support its initiatives.

Kirkland's Home (Nasdaq: KIRK), a specialty retailer of home décor and furnishings, has announced it will release its second quarter fiscal 2024 financial results before market open on Thursday, September 5, 2024. The company will host a conference call at 9:00 a.m. Eastern Time to discuss the results. A live audio webcast will be available on the company's investor relations website, and a recorded replay will be accessible for one year. Kirkland's currently operates 325 stores in 35 states and an e-commerce website, offering customers an engaging shopping experience with affordable, quality home décor and furnishings.

Kirkland's Home (Nasdaq: KIRK) has been named America's #1 Home Goods & Décor Retailer by Newsweek in its third annual ranking of America's Best Retailers. This recognition highlights the company's commitment to customer experience and strategic initiatives. CEO Amy Sullivan expressed pride in the achievement, attributing it to the team's dedication and ongoing efforts to enhance their competitive position.

The ranking, conducted in partnership with Statista, surveyed over 7,000 shoppers to identify the top 200 retail destinations. Participants evaluated retailers based on factors such as likelihood of recommendation, pricing, product selection, atmosphere, customer service, and accessibility. This accolade comes as Kirkland's Home continues to focus on re-engaging core customers, refining product assortments, and strengthening omni-channel capabilities.

Kirkland's Home, trading under the symbol KIRK on Nasdaq, announced the outcomes of its 2024 Annual Meeting of Shareholders held on June 26, 2024. Key highlights include the election of Amy Sullivan and re-election of Ann Joyce to the Board of Directors. R. Wilson Orr, III and Steven J. Collins did not receive majority votes and subsequently resigned, effective immediately. Ann Joyce has been appointed as the new Chair of the Board, and the Board size has been reduced from eight members to six. Additionally, shareholders approved amendments to the company's Equity Incentive Plan, an advisory vote on executive compensation, and ratified the appointment of independent auditors.

Kirkland's Home (Nasdaq: KIRK) reported Q1 2024 results for the period ending May 4, 2024. Net sales were $91.8 million, a decrease from $96.9 million in Q1 2023. Comparable sales dropped by 3.5%, including a significant 19.1% decline in e-commerce sales. However, brick-and-mortar stores saw a 2.8% increase in comparable sales. The gross profit margin improved by 280 basis points to 29.5%. Operating loss was $7.5 million, a $2.8 million improvement year-over-year. Adjusted EBITDA loss also improved to $4.5 million from $5.8 million. The company closed two stores, ending the quarter with 329 stores, and reported a cash balance of $3.8 million with $48.9 million in outstanding debt. Cost-saving initiatives are expected to save $6 million in 2024. Kirkland's retained Consensus to explore strategic alternatives but set no deadline for this review.

Kirkland's Home, a specialty retailer of home décor and furnishings, will release its first quarter fiscal 2024 financial results on June 6, 2024, before the market opens. The company will also host a conference call at 9:00 a.m. Eastern Time to discuss the results. The call can be accessed via toll-free and international dial-in numbers, and a live audio webcast will be available on the company's investor relations website. A replay of the call will be accessible shortly after its conclusion both online and via telephone until June 13, 2024. Kirkland's Home operates 328 stores across 35 states and an e-commerce platform, offering a curated selection of home décor and furnishings.