Company Overview of The Kitchen Collection, LLC
The Kitchen Collection, LLC operates as a housewares retailer in the United States. The company sells small appliances, bake ware, kitchen gadgets, cookware, cutlery, tableware, food products, decorative wood products, and marble and ceramics. It also sells factory overstocks, warehouse clearance items, and other special products. The company sells products through its stores located in traditional and outlet malls; and online stores. The company was founded in 1980 and is based in Chillicothe, Ohio. The Kitchen Collection, LLC operates as a subsidiary of Nacco Industries Inc.
71 East Water Street
Chillicothe, OH 45601
Founded in 1980
Key Executives for The Kitchen Collection, LLC
Chief Executive Officer and Director
Compensation as of Fiscal Year 2016.
The Kitchen Collection, LLC Key Developments
Concentric Communications Announces National Distribution with Kitchen Collection for the Unique New Product the Jellydish Garlic Peeler
Aug 22 16
Concentric Communications is awarded national distribution for the unique new product the JellyDish Garlic Peeler. The Garlic Peeler's unique design helped to win national placement on store shelves after demonstrating its "better mousetrap" feature of keeping the mess of the skins contained in its own dish. The order shipped on-schedule August 1 to the Kitchen Collection distribution center in Ohio. This fall the garlic peelers will be set on shelves in all 220 stores including its store here at the Gretna mall.
Kitchen Collection Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
Mar 2 16
Kitchen Collection reported earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net income of $3.9 million and revenues of $56.5 million for the fourth quarter of 2015 compared with net income of $3.1 million and revenues of $61.3 million for the fourth quarter of 2014. The fourth quarter 2014 results include charges totaling $2.8 million pre-tax related to planned store closures and realigning the supporting business infrastructure accordingly. The substantial decline in Revenue was primarily the result of a reduction in the number of stores in 2015 as a result of realigning the business around a smaller core number of Kitchen Collection stores. A decrease in comparable store sales due to fewer customer visits, reductions in the number of store transactions and a lower average sales transaction value also contributed to the decline in revenue. Sales at newly opened Kitchen Collection stores partially offset the revenue decline. The improvement in the 2015 fourth quarter net income was largely due to the absence of the realignment charges of $2.8 million taken in 2014. Excluding the 2014 realignment charges, overall fourth quarter 2015 results decreased moderately from 2014 primarily as a result of fewer stores being open during the peak holiday-selling season and recognition of non-deductible employee-related expenses. Operating profit was $7.0 million against $5.1 million a year ago. Income before taxes was $7.0 million against $5.0 million a year ago. Capital expenditures were $0.6 million against $0.2 million a year ago. Net cash provided by operating activities was $17.8 million against $17.0 million a year ago.
For the year, the company reported net loss of $0.4 million and revenues of $151.0 million compared with a net loss of $4.6 million and revenues of $168.5 million for the year ended December 31, 2014. For the 2015 full year, Kitchen Collection generated net cash provided by operating activities of $12.5 million, as a result of substantially reduced working capital levels, partially offset by net cash used for investing activities of $1.7 million. For the 2014 full year, Kitchen Collection generated net cash provided by operating activities of $7.1 million partially offset by net cash used for investing activities of $0.8 million. Operating profit was $0.2 million against operating loss of $7.1 million a year ago. Capital expenditures were $1.8 million against $1.2 million a year ago. Negative return on equity was 1.3% against 14.3% a year ago.
As a result of ongoing market weakness, Kitchen Collection anticipates 2016 revenues and results to be comparable with 2015. Kitchen Collection believes its remaining stores are well-positioned to allow the company to perform at close to break-even in the current challenging environment and to take advantage of any future market rebound. Cash flow before financing activities is expected to be positive in 2016 but substantially lower than 2015. Longer term, Kitchen Collection plans to focus on comparable store sales growth within its smaller core store portfolio. Kitchen Collection expects to accomplish this by increasing closure rates through continued refinement of its format, ongoing review of specific product offerings, merchandise mix, store displays and appearance and enhancing customers' store experience through improved customer interactions. Increasing sales of higher-margin products will also continue to be a key focus, as well as continuing to evaluate and, as lease contracts permit, terminate or restructure leases for underperforming and loss-generating stores.
Kitchen Collection, LLC Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015 and Full Year of 2016; Expects to Open an Additional Seven Outlet Stores During the Fourth Quarter of 2015
Nov 3 15
Kitchen Collection, LLC reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. The company reported a net loss of $0.6 million and revenues of $34.7 million for the third quarter of 2015 compared with a net loss of $1.0 million and revenues of $37.6 million for the third quarter of 2014. The decline in Kitchen Collection's Revenue was primarily the result of the strategic decision to close unprofitable stores since September 30, 2014. The reduced net loss was mainly the result of the closure of unprofitable stores combined with improved results at the Kitchen Collection® comparable stores. Operating loss was $0.843 million compared to $1.43 million a year ago. Loss before income tax provision was $0.904 million compared to $1.54 million a year ago. Capital expenditure was $0.7 million compared to $0.3 million a year ago. Net cash provided by operating activities was $1.5 million compared to $3.6 million a year ago. Negative return on equity was 4.1% compared to 18.6% a year ago.
For the nine months ended September 30, 2015, the company reported a net loss of $4.3 million and revenues of $94.5 million compared with a net loss of $7.7 million and revenues of $107.2 million for the nine months ended September 30, 2014. Operating loss was $6.86 million compared to $12.2 million a year ago. Loss before income tax provision was $7.013 million compared to $12.52 million a year ago.
The company expects to open an additional seven outlet stores during the fourth quarter of 2015.
In total, fewer stores will be open during the fourth quarter than a year ago, which is expected to result in lower fourth-quarter 2015 revenues compared with the fourth quarter of 2014. Despite substantially lower sales volumes, Kitchen Collection expects a significant improvement in operating profit in the fourth quarter of 2015 compared with the fourth quarter of 2014, largely due to the absence of charges totaling $2.8 million pre-tax recorded in the fourth quarter of 2014 related to realigning the business. The improvement in profitability per store is primarily the result of closing underperforming and loss-generating stores early in 2015 and reducing the company's expense structure. The anticipated improved fourth quarter results are also expected to contribute to roughly break-even operating profit for full year 2015. Capital expenditures are expected to be $0.5 million in the fourth quarter of 2015.
Despite continued market weakness, Kitchen Collection anticipates 2016 revenues to increase marginally compared with 2015. The company expects an increase in revenues as it adds stores cautiously in optimum locations in strong outlet malls. As a result of the anticipated increase in revenues and the comprehensive realignment actions taken during 2014 and 2015, Kitchen Collection anticipates it may return to profitability in 2016. In addition, Kitchen Collection believes its remaining stores are well-positioned to allow the company to continue to be profitable in the current challenging environment and be prepared to take advantage of any future market rebound.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|