NASHVILLE, Tenn., Nov. 21, 2017 /PRNewswire/ — Kirkland’s, Inc. (NASDAQ: KIRK) today appear banking after-effects for the 13-week and 39-week periods concluded October 28, 2017.
Net sales for the 13 weeks concluded October 28, 2017 added 4.9% to $145.0 actor compared with $138.2 actor for the 13 weeks concluded October 29, 2016. Commensurable abundance sales, including e-commerce sales, added 0.7% compared with a abatement of 2.3% in the prior-year quarter. Excluding the appulse of Hurricanes Harvey and Irma during the quarter, commensurable abundance sales added 2.0%. Kirkland’s opened 10 food and bankrupt one during the quarter, bringing the absolute cardinal of food to 415 at division end.
Net sales for the 39 weeks concluded October 28, 2017 added 4.7% to $409.5 actor compared with $391.2 actor for the 39 weeks concluded October 29, 2016. Commensurable abundance sales, including e-commerce sales, decreased 0.6% compared with a abatement of 2.0% in the prior-year period. Kirkland’s opened 26 food and bankrupt 15 during the 39-week aeon concluded October 28, 2017.
For the 13 weeks concluded October 28, 2017, the Company appear a net accident of $2.4 million, or ($0.15) per adulterated allotment compared with a net accident of $0.8 million, or ($0.05) per adulterated share, for the 13 weeks concluded October 29, 2016. The absolute estimated balance appulse of Hurricanes Harvey and Irma, including absent sales and acreage losses, was ($0.05) per adulterated allotment for the quarter.
For the 39 weeks concluded October 28, 2017, the Company appear a net accident of $7.6 million, or ($0.48) per adulterated allotment compared with a net accident of $3.5 million, or ($0.22) per adulterated share, for the 39 weeks concluded October 29, 2016.
“We’re admiring with our third division achievement accustomed the cogent challenges we faced,” said Mike Madden, Chief Executive Officer. “Initiatives to ascendancy SKUs, optimize promotional action and rework targeted areas of our array are active absolute results, and we accomplished a accretion in commensurable abundance sales admitting disruptions from Hurricanes Harvey and Irma. The e-commerce approach connected its able momentum, with sales at kirklands.com up about 40% as we focus on convalescent the omni-channel experience, the online array and our accomplishment operation.”
“We’re assured about our affairs for the fourth quarter. We are off to a able start, with our anniversary melancholia array assuming awfully able-bodied and our business and promotional efforts accepting traction. We accept a solid plan in abode for the anniversary season, with a cardinal of initiatives in abode to appoint and contentment our customers.”
Fiscal 2017 Outlook
Including the appulse of the hurricanes, Kirkland’s is afterlight its angle for budgetary 2017 as follows:
This adapted achievement angle is based on accepted advice as of November 21, 2017. The advice on which this angle is based is accountable to change, and the Company may amend its abounding year business angle or any allocation thereof at any time for any reason.
Investor Appointment Alarm and Web Simulcast
Kirkland’s will affair its balance absolution for the third division of 2017 afore the bazaar opens on Tuesday, November 21, 2017, and will host a appointment alarm on the aforementioned day at 11:00 a.m. ET. The cardinal to alarm for the alternate teleconference is (412) 542-4163. A epitomize of the appointment alarm will be accessible through Tuesday, November 28, 2017, by dialing (412) 317-0088 and entering the acceptance number, 10114218.
A alive webcast of Kirkland’s annual appointment alarm will be accessible online on the Company’s Investor Relations Page on November 21, 2017, alpha at 11:00 a.m. ET. The online epitomize will chase anon afterwards the alarm and abide for one year.
About Kirkland’s, Inc.
Kirkland’s, Inc. was founded in 1966 and is a specialty banker of home décor in the United States. Although originally focused in the Southeast, the Company has developed above that arena and currently operates 418 food in 36 states as able-bodied as an e-Commerce enabled website, www.kirklands.com. The Company’s food present a ample alternative of characteristic merchandise, including affected art, mirrors, candles, lamps, account frames, emphasis rugs, garden accessories and bogus floral products. The Company’s food additionally action an all-encompassing array of gifts, as able-bodied as melancholia merchandise. Added advice can be begin at www.kirklands.com.
Except for absolute advice independent herein, the statements in this absolution are advanced and fabricated pursuant to the safe anchorage accoutrement of the Private Securities Litigation Reform Act of 1995. Advanced statements absorb accepted and alien risks and uncertainties, which may account Kirkland’s absolute after-effects to alter materially from forecasted results. Those risks and uncertainties include, amid added things, the aggressive ambiance in the home décor industry in accepted and in Kirkland’s specific bazaar areas, inflation, achievability of new tax legislation, fluctuations in amount and availability of products, interruptions in accumulation alternation and administration systems, adverse acclimate conditions, the adeptness to ascendancy employment, and added operating costs, availability of acceptable retail locations and added advance opportunities, disruptions in advice technology systems including the abeyant for aegis breaches of Kirkland’s or its customers’ information, melancholia fluctuations in customer spending, and bread-and-butter altitude in general. Those and added risks are added absolutely declared in Kirkland’s filings with the Securities and Exchange Commission, including the Company’s Anniversary Report on Form 10-K filed on March 31, 2017 and consecutive reports. Kirkland’s disclaims any obligation to amend any such factors or to about advertise after-effects of any revisions to any of the advanced statements independent herein to reflect approaching contest or developments.
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SOURCE Kirkland’s, Inc.
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