Kirkland's Upbeat Heading into Holiday
Casual Living Staff -- Casual Living, December 6, 2013
NASHVILLE, TENN. - Improvements to product margins, conversion rates and average ticket resulted in positive results for Kirkland's during the third quarter, with the strongest comp increases coming from mirrors, wall decor, textiles and house wares.
The 324-unit home décor retailer swing to a profit of $1.0 million, or 6 cents per share, for the quarter ended Nov. 2 compared to a net loss of $400,000 during the year-ago period.
Sales climbed 9.8% to $106.1 million, with comps - which include online sales - up 4.9%.
Year-to-date, Kirkland's reported net income of $2.2 million compared to a net loss of $500,000 in the same period last year. Sales climbed 6.7% to $304.5 million, with comps up 0.8%.
"Our outlook for the fourth quarter remains upbeat, and we are optimistic about the further rollout of our branding initiatives as well as the introduction of our loyalty program, K Club," said Robert Alderson, president and ceo.