Kirkland’s Reports Fourth Quarter Sales
Updates EPS Guidance for Impact from Winter Storms and Compressed Holiday
NASHVILLE, Tenn. -- February 6, 2014
Kirkland’s, Inc. (NASDAQ: KIRK) today reported sales for the 13-week and
52-week periods ended February 1, 2014.
Net sales for the 13 weeks ended February 1, 2014, decreased 4.2% to $156.1
million compared with $162.9million for the 14 weeks ended February 2, 2013.
On a 13-week basis, comparable store sales for the fourth quarter of fiscal
2013, including e-commerce sales, were flat compared with a decrease of 2.6%
in the prior-year quarter. Kirkland’s opened 8 stores and closed 7 during the
fourth quarter, bringing the total number of stores to 324 at quarter end.
Net sales for the 52 weeks ended February 1, 2014, increased 2.7% to $460.6
million compared with $448.4million for the 53 weeks ended February 2, 2013.
On a 52-week basis, comparable store sales for fiscal 2013, including
e-commerce sales, increased 0.5% compared with a 3.0% decrease in fiscal 2012.
The Company opened 24 stores and closed 23 during fiscal 2013.
Based on these results, Kirkland’s updated its guidance for the fourth quarter
of fiscal 2013 to earnings of $0.66 to $0.68 per diluted share, bringing
expected fiscal 2013 earnings to $0.79 to $0.81 per diluted share.
Robert Alderson, Kirkland’s President and Chief Executive Officer, noted, “Not
surprisingly, we have not been immune to the challenging weather and
compressed holiday season that other retailers have noted to date in the
quarter. Although we began with a strong November and a record Black Friday
weekend, we experienced frequent and severe weather-related declines in
traffic throughout December affecting important weekend sales days that could
not be recovered. Sales trends improved during January, but were again
negatively impacted by the latest group of storms affecting the South and
Southeast. Winter will not last forever and as we enter fiscal 2014, we remain
confident about our sales, multi-channel, branding and store growth plans.”
Kirkland’s will issue its earnings release for the fourth quarter before the
market opens on Thursday, March 13, 2014, and will host a conference call on
the same day at 11:00a.m.ET. The number to call for the interactive
teleconference is (212) 231-2918. A replay of the conference call will be
available through Thursday, March 20, 2014, by dialing (402) 977-9140 and
entering the confirmation number, 21706372.
A live broadcast of Kirkland’s quarterly conference call will be available
online at the Company’s website www.kirklands.com under Investor Relations or
http://www.videonewswire.com/event.asp?id=97960 on March 13, 2014, beginning
at 11:00a.m.ET. The online replay will follow shortly after the call and
continue for one year.
About Kirkland’s, Inc.
Kirkland’s, Inc. was founded in 1966 and is a specialty retailer of home décor
in the United States. Although originally focused in the Southeast, the
Company has grown beyond that region and currently operates 319 stores in 35
states. The Company’s stores present a broad selection of distinctive
merchandise, including framed art, mirrors, candles, lamps, picture frames,
accent rugs, garden accessories and artificial floral products. The Company’s
stores also offer an extensive assortment of gifts, as well as seasonal
merchandise. More information can be found at www.kirklands.com.
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
Kirkland’s actual results to differ materially from forecasted results. Those
risks and uncertainties include, among other things, the competitive
environment in the home décor industry in general and in Kirkland’s specific
market areas, inflation, product availability and growth opportunities,
seasonal fluctuations, and economic conditions in general. Those and other
risks are more fully described in Kirkland’s filings with the Securities and
Exchange Commission, including the Company’s Annual Report on Form 10-K filed
on April 18, 2013. Kirkland’s disclaims any obligation to update any such
factors or to publicly announce results of any revisions to any of the
forward-looking statements contained herein to reflect future events or
W. Michael Madden, 615-872-4800
Senior Vice President & CFO
Corporate Communications, Inc.
Tripp Sullivan, 615-324-7335
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