Welcome to our dedicated page for Kirklands news (Ticker: KIRK), a resource for investors and traders seeking the latest updates and insights on Kirklands stock.
The news archive for KIRK covers the period when the Nasdaq symbol represented Kirkland’s, Inc., a specialty retailer of home décor, housewares and furnishings that later rebranded as The Brand House Collective, Inc. Company press releases and regulatory announcements during this time document its evolution from a single-brand home décor chain into a multi-brand merchandising, supply chain and retail operator.
Readers exploring KIRK-related news will find updates on financial results, including quarterly and annual earnings releases where the company reported sales trends across its brick-and-mortar stores and e-commerce channel. These items often discuss comparable sales performance, store openings and closures, and changes in gross margin and operating metrics.
The news flow also highlights strategic initiatives such as the partnership with Beyond, Inc., expansions of credit facilities, and amendments to collaboration and licensing agreements. Releases describe how these arrangements supported an updated store conversion strategy and the introduction of licensed formats like Bed Bath & Beyond Home, Overstock and buybuy BABY within the company’s retail footprint.
Another key theme in the KIRK news record is corporate transformation. Articles detail the decision to rebrand as The Brand House Collective, the planned consolidation of store locations, and the subsequent change of the corporate name and ticker symbol from KIRK to TBHC. Leadership and board changes, as well as governance matters presented in proxy materials and shareholder meeting results, are also reflected in the news.
For investors and researchers, this news page provides historical context on how Kirkland’s, Inc. repositioned itself, managed its capital structure and reshaped its brand portfolio during the years when its shares traded under the KIRK symbol.
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.
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