Kirkland’s Earnings: Here’s Why Investors are Happy Now
Kirkland’s Inc. (NASDAQ:KIRK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4%.
Kirkland’s Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.10 in the quarter as EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 3.49% to $101.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kirkland’s Inc. reported adjusted EPS income of $0.10 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $100.7 million.
Quoting Management: Robert Alderson, Kirkland’s President and Chief Executive Officer, said, “Although we had a slow start to February consistent with our cautious outlook for the first half of the year, we experienced an improvement in trends later in the quarter. The better sales and margin performance in the latter weeks of the quarter exceeded our expectations and has modestly improved our outlook. However, there is still much work to do in firmly establishing a positive merchandising trend as well as leveraging our ongoing investments in technology, growing e-commerce, improving traffic, focusing on tight expense controls and executing our new branding initiatives.”
Key Stats (on next page)…