Kirkland's (KIRK) Reports 4.7% Growth in Q3 Sales, Comps Fall 3.6%, Offers Q3 EPS Update
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Price: $1.92 -2.54%
EPS Growth %: +9.5%
Financial Fact:
Interest expense, net: 67K
Today's EPS Names:
MAXN, CSTR, ACU, More
EPS Growth %: +9.5%
Financial Fact:
Interest expense, net: 67K
Today's EPS Names:
MAXN, CSTR, ACU, More
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Kirkland's, Inc. (NASDAQ: KIRK) today reported sales for the 13 weeks ended October 29, 2011.
Net sales for the 13 weeks ended October 29, 2011, increased 4.7% to $97.1 million compared with $92.7 million for the prior-year quarter. The Street's sales estimate for the quarter is $94.1 million. Comparable store sales for the third quarter of fiscal 2011 decreased 3.6% compared with a decrease of 2.4% in the prior-year quarter. Kirkland’s opened 13 stores and closed 6 during the third quarter of 2011, bringing the total number of stores to 301.
Based on these results, the Company expects to report earnings of $0.03 to $0.05 per diluted share for the third quarter of fiscal 2011 compared with its mid-August projection of a small loss for the quarter. The Street is currently forecasting an EPS loss of $0.02.
Kirkland’s also announced it will issue its earnings release for the third quarter before the market opens on Friday, November 18, 2011, 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) 231-2905. A replay of the conference call will be available through Friday, November 25, 2011, by dialing (402) 977-9140 and entering the confirmation number, 21543983.
Net sales for the 13 weeks ended October 29, 2011, increased 4.7% to $97.1 million compared with $92.7 million for the prior-year quarter. The Street's sales estimate for the quarter is $94.1 million. Comparable store sales for the third quarter of fiscal 2011 decreased 3.6% compared with a decrease of 2.4% in the prior-year quarter. Kirkland’s opened 13 stores and closed 6 during the third quarter of 2011, bringing the total number of stores to 301.
Based on these results, the Company expects to report earnings of $0.03 to $0.05 per diluted share for the third quarter of fiscal 2011 compared with its mid-August projection of a small loss for the quarter. The Street is currently forecasting an EPS loss of $0.02.
Kirkland’s also announced it will issue its earnings release for the third quarter before the market opens on Friday, November 18, 2011, 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) 231-2905. A replay of the conference call will be available through Friday, November 25, 2011, by dialing (402) 977-9140 and entering the confirmation number, 21543983.
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