Kirkland’s Improves Q4 Sales Momentum

Kirkland’s reported improved sales momentum for its 13-week fourth quarter and 52-week fiscal year ended February 1.

Net sales for the quarter were $209.4 million versus $216.1 million for the year-prior period. Comparable store sales, including those generated by the e-commerce operation, decreased 2.7% in the quarter year over year.

Net sales for the fiscal year were $603.9 million versus $647.1 million for the year earlier. Comps, including those generated by the e-commerce operation, decreased 7.1% year over year.

“The enhancements we are making to the merchandise assortment are gaining traction with customers, and we are seeing the benefit in the sequential comparable sales improvement through the second half of the year,” said Woody Woodward, Kirkland’s CEO. “Weaker sales in November were followed by a stronger December and January, led by an increase in e-commerce revenues of 38%. With $30 million in cash at year end, no debt, a more streamlined infrastructure and store closures in February and March, we believe we are well positioned to continue to execute on improving the relevancy and quality of our assortment.”