Kirkland’s Earnings: Everything You Must Know Now
Kirkland’s Inc. (NASDAQ:KIRK) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Kirkland’s Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.03 in the quarter versus EPS of $-0.11 in the year-earlier quarter.
Revenue: Rose 6.7% to $97.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kirkland’s Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.1. It missed the average revenue estimate of $97.76 million.
Quoting Management: Robert Alderson, Kirkland’s President and Chief Executive Officer, said, “Consistent trends through the second quarter, combined with a stronger margin from a less promotional stance, led to the in-line sales and better-than-anticipated earnings results. We are well-positioned to deliver on stronger second half performance with improving trends in our merchandise margin, conversion and average ticket. While traffic remains a challenge, we are encouraged by the initial test results from our branding initiatives and will look to extend and expand our activities during the second half of 2013.”
Key Stats (on next page)…