Mar 12, 2010 |
Kirkland's Reports Fourth Quarter and Annual Results |
Fourth Quarter Highlights:
• Comparable store sales increase 10.2% • Reports EPS of $1.08 versus $0.76 a year ago • Adjusted EPS increases to $0.92 versus $0.59 a year ago • Total sales increased 6.9% despite 20 fewer stores from a year ago • Cash balance improves to $76.4 million versus $36.4 million a year ago
Fiscal 2009 Highlights:
• Comparable store sales increase 8.4% • Reports EPS of $1.71 versus $0.47 a year ago • Adjusted EPS increases to $1.42 versus $0.30 a year ago • Ends the year with no debt • Issues performance goals for fiscal 2010
NASHVILLE, Tenn. (March 12, 2010) — Kirkland's, Inc. (NASDAQ: KIRK) today reported financial results for the 13-week and 52-week periods ended January 30, 2010.
Net sales for the 13-week period ended January 30, 2010, increased 6.9% to $142.8 million compared with $133.6 million for the 13-week period ended January 31, 2009. Comparable store sales for the fourth quarter of fiscal 2009 increased 10.2% compared with an increase of 5.3% in the prior-year period.
The Company opened 3 stores and closed 20 stores during the quarter to end the period with 279 stores. Net sales for the 52-week period ended January 30, 2010, increased 3.8% to $406.2 million compared with $391.3 million for the 52-week period ended January 31, 2009. Comparable store sales for the 52-week period ended January 30, 2010, increased 8.4% compared with an increase of 3.6% in the prior-year period. The Company opened 18 stores and closed 38 stores during the 52-week period.
The Company reported net income of $22.1 million, or $1.08 per diluted share, for the 13-week period ended January 30, 2010, compared with net income of $15.0 million, or $0.76 per diluted share, for the 13-week period ended January 31, 2009. For the 52-week period, the Company reported net income of $34.6 million, or $1.71 per diluted share, compared with net income of $9.3 million, or $0.47 per diluted share in the prior-year period.
Click on attachment for entire release and financial tables.
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