Kirkland's, Inc. (NASDAQ: KIRK) today reported sales for the 14-week and
53-week periods ended February 2, 2013, that were within the Company's
previous guidance.
Net sales for the 14 weeks ended February 2, 2013, increased 9.0% to
$162.6 million compared with $149.1 million for the 13 weeks ended
January 28, 2012. On a 13-week basis, comparable store sales for the
fourth quarter of fiscal 2012 decreased 2.6% compared with an increase
of 1.4% in the prior-year quarter. Kirkland's opened 17 stores and
closed 2 during the fourth quarter, bringing the total number of stores
to 323 at quarter end.
Net sales for the 53 weeks ended February 2, 2013, increased 4.2% to
$448.0 million compared with $430.3 million for the 52 weeks ended
January 28, 2012. On a 52-week basis, comparable store sales for fiscal
2012 decreased 3.0% compared with a 4.0% decrease in fiscal 2011. The
Company opened 42 stores and closed 28 during fiscal 2012.
Based on these results, Kirkland's confirmed its previous guidance of
earnings of $0.71 to $0.76 per diluted share for the fourth quarter of
fiscal 2012. The Company also announced that Robert Alderson has
returned to his duties as President and Chief Executive Officer.
Kirkland's will issue its earnings release for the fourth quarter before
the market opens on Thursday, March 14, 2013, and will host a conference
call on the same day at 11:00 a.m. ET. The number to call for the
interactive teleconference is (212) 231-2919. A replay of the conference
call will be available through Thursday, March 21, 2013, by dialing
(402) 977-9140 and entering the confirmation number, 21646219.
A live broadcast of Kirkland's quarterly conference call will be
available online at the Company's website www.kirklands.com
under Investor Relations or http://www.videonewswire.com/event.asp?id=92067
on March 14, 2013, beginning at 11:00 a.m. ET. The online replay will
follow shortly after the call and continue for one year.
Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home
décor in the United States. Although originally focused in the
Southeast, the Company has grown beyond that region and currently
operates 318 stores in 35 states. The Company's stores present a broad
selection of distinctive merchandise, including framed art, mirrors,
candles, lamps, picture frames, accent rugs, garden accessories and
artificial floral products. The Company's stores also offer an extensive
assortment of gifts, as well as seasonal merchandise. More information
can be found at www.kirklands.com.
Except for historical information contained herein, the statements in
this release are forward-looking and made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking
statements involve known and unknown risks and uncertainties, which may
cause Kirkland's actual results to differ materially from forecasted
results.Those risks and uncertainties include, among other
things, the competitive environment in the home décor industry in
general and in Kirkland's specific market areas, inflation, product
availability and growth opportunities, seasonal fluctuations, and
economic conditions in general.Those and other risks are more
fully described in Kirkland's filings with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K filed on
April 12, 2012.Kirkland's disclaims any obligation to update any
such factors or to publicly announce results of any revisions to any of
the forward-looking statements contained herein to reflect future events
or developments.
Kirkland's, Inc.
W. Michael Madden, 615-872-4800
Senior Vice
President & CFO
or
Corporate Communications, Inc.
Tripp
Sullivan, 615-324-7335
