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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Kirkland's Home (Nasdaq: KIRK) reported financial results for Q4 and FY 2022, showing net sales of $162.5 million for Q4 and total sales of $498.8 million for the year. Q4 net loss stood at $3.8 million, or $0.30 per diluted share, while the annual net loss reached $44.7 million, or $3.52 per diluted share. Comparable sales dropped 6.1% in Q4 and 9.0% for the year, attributing declines to reduced traffic and inventory strategy adjustments. Operating cash flow was robust at $40.1 million, facilitating $45.0 million in debt repayments. The amended credit agreement increased the revolving credit line to $90 million, enhancing liquidity going into 2023.
Kirkland's, Inc. (Nasdaq: KIRK) announced the retirement of its President and CEO, Steve Woodward, effective May 31, 2023. The board is evaluating options for a permanent successor. Ann Joyce, a current board member, will serve as Interim CEO. Joyce has extensive retail experience, having held executive roles in companies like Chico's FAS and Ralph Lauren. Additionally, Amy Sullivan has been promoted to President and Chief Operating Officer, with over a decade of experience at Kirkland's. The company aims to reinvigorate its customer base and return to profitability amidst operational changes.
Kirkland's Home (Nasdaq: KIRK) announced a conference call scheduled for April 4, 2023, at 9:00 a.m. Eastern time to discuss its fourth quarter and fiscal year financial results for the period ending January 28, 2023. The financial results will be released prior to the call. Interested parties can join via a toll-free dial-in or by accessing the live broadcast through the company’s investor relations website. A replay of the call will be available until April 11, 2023. Kirkland's operates 345 stores across 35 states and maintains an e-commerce presence at its website.
Kirkland's Home (Nasdaq: KIRK) reported a 5.5% decrease in comparable sales for holiday 2022, highlighting flat sales in November and an 11% drop in December versus the prior year. The unexpected decline in December led to revised expectations for net borrowings between $15 million and $17 million and inventory levels nearing the high end of $70 million to $80 million. CEO Steve Woodward acknowledged traffic reductions post-Black Friday promotions and aims to stabilize the organization in fiscal 2023 despite disappointing results.
Kirkland's Home (KIRK) reported third-quarter 2022 results with net sales of $131.0 million, down from $143.6 million the previous year. Comparable sales dropped 7.0%, with e-commerce sales falling 8.6%. The company recorded a GAAP net loss of $7.3 million, translating to $0.58 per diluted share, compared to a profit of $7.2 million in Q3 2021. Gross profit margin was 25.0%, significantly lower than 34.7% last year, impacted by higher promotional activity and freight costs. Despite these challenges, management anticipates improved sales trends in Q4, aided by seasonal merchandise.
Kirkland's, Inc. (Nasdaq: KIRK), a specialty retailer in home décor, is set to participate in two upcoming investor conferences. The Wolfe Research Virtual Consumer Growth Conference is scheduled for December 5-6, 2022, with a panel discussion on December 6 at 3:25 p.m. ET. Additionally, the Sidoti December 2022 Investor Conference will take place on December 8, 2022, featuring a presentation at 2:30 p.m. ET and a webcast available here.