Kirkland (KIRK) Lowers 1Q Guidance, Reports Sales

May 3, 2012 7:37 AM EDT
Kirkland's (NASDAQ: KIRK) net sales for the 13 weeks ended April 28, 2012, increased 3.6% to $97.8 million compared with $94.4 million for the prior-year quarter. Comparable store sales for the first quarter of fiscal 2012 decreased 1.2% compared with a decrease of 8.4% in the prior-year quarter.

Kirkland lowered guidance for the first quarter of fiscal 2012 to $0.08 to $0.10 per diluted share compared to its previous guidance range of $0.11 to $0.14. This compares to an average analyst estimate of $0.12.

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