Home furnishing maker Kirkland's declares Q2 results

18 Aug '05

4 min read

Tennessee based leading home furnishing maker Kirkland's Inc reported financial results for the 13-week and 26-week periods ended July 30, 2005.

Net sales for the second quarter ended July 30, 2005, increased 2.4 percent to $86.8 million compared with $84.7 million for the second quarter ended July 31, 2004. Comparable store sales for the second quarter of 2005 decreased 10.2 percent compared with a 3.4 percent decrease for the second quarter of fiscal 2004. The Company reported a net loss of $5.7 million, or $0.29 per diluted share, for the second quarter of fiscal 2005 compared with a net loss of $2.7 million, or $0.14 per diluted share, for the prior-year period.

Net sales for the 26-week period ended July 30, 2005, increased 2.5 percent to $171.5 million from $167.3 million for the 26-week period ended July 31, 2004. Comparable store sales for the 26 weeks ended July 30, 2005, decreased 10.3 percent compared with a 1.0 percent decrease in the prior-year period. The Company reported a net loss of $7.3 million, or $0.38 per diluted share, for the first half of 2005 compared with a net loss of $2.0 million, or $0.10 per diluted share, for the first half of 2004. Jack Lewis, Kirkland's President and CEO, said, "Our results were consistent with the second quarter sales we announced earlier this month. Traffic trends remained weak, but once again our non-mall stores performed comparatively well, further justifying our strategic direction of locating our storesoutside the mall.

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