Welcome to our dedicated page for Kirklands news (Ticker: KIRK), a resource for investors and traders seeking the latest updates and insights on Kirklands stock.
The news archive for KIRK covers the period when the Nasdaq symbol represented Kirkland’s, Inc., a specialty retailer of home décor, housewares and furnishings that later rebranded as The Brand House Collective, Inc. Company press releases and regulatory announcements during this time document its evolution from a single-brand home décor chain into a multi-brand merchandising, supply chain and retail operator.
Readers exploring KIRK-related news will find updates on financial results, including quarterly and annual earnings releases where the company reported sales trends across its brick-and-mortar stores and e-commerce channel. These items often discuss comparable sales performance, store openings and closures, and changes in gross margin and operating metrics.
The news flow also highlights strategic initiatives such as the partnership with Beyond, Inc., expansions of credit facilities, and amendments to collaboration and licensing agreements. Releases describe how these arrangements supported an updated store conversion strategy and the introduction of licensed formats like Bed Bath & Beyond Home, Overstock and buybuy BABY within the company’s retail footprint.
Another key theme in the KIRK news record is corporate transformation. Articles detail the decision to rebrand as The Brand House Collective, the planned consolidation of store locations, and the subsequent change of the corporate name and ticker symbol from KIRK to TBHC. Leadership and board changes, as well as governance matters presented in proxy materials and shareholder meeting results, are also reflected in the news.
For investors and researchers, this news page provides historical context on how Kirkland’s, Inc. repositioned itself, managed its capital structure and reshaped its brand portfolio during the years when its shares traded under the KIRK symbol.
Kirkland's, Inc. (Nasdaq: KIRK), a specialty retailer in home décor, will hold a conference call on December 2, 2022, at 9:00 a.m. ET to discuss its third quarter financial results for the period ending October 29, 2022. The results will be announced in a press release prior to the call. The conference will include a Q&A session with President and CEO Steve Woodward and EVP and CFO Mike Madden.
The call can be accessed via a toll-free number and will also be available for replay through December 9, 2022.
Kirkland's Home suggests that seasonal beverage choices reflect fall decor preferences. Popular drinks like the Pumpkin Spice Latte signify classic decor, while the Oak Milk Latte indicates a cozy style. Hazelnut Mocha enthusiasts prefer elegant decorations, and Flat White drinkers opt for neutral aesthetics. Spiced Apple Cider drinkers lean towards non-traditional decor. The fall collection includes rich colors and a variety of home decor items, from furniture to accessories, suitable for various styles. Kirkland's Home operates 369 stores across 35 states.
Kirkland's Home (Nasdaq: KIRK) reported its financial results for the second quarter ended July 30, 2022. Net sales reached $102.1 million, reflecting an 8.6% decline in comparable sales. The company posted a GAAP net loss of $25.7 million, or $2.02 per diluted share. Gross profit margin decreased to 18.1%, amid increased promotional activity and higher distribution costs. As of July 30, 2022, Kirkland's had a cash balance of $10.3 million and $55 million in outstanding debt. Management remains focused on improving liquidity and operational efficiency during a challenging consumer environment.
Kirkland's, Inc. (Nasdaq: KIRK) will host a conference call on August 30, 2022, at 9:00 a.m. Eastern time to discuss its second quarter financial results for the period ending July 30, 2022. The results will be released ahead of the call. Interested parties can join the call by dialing (855) 560-2577 for U.S. participants or (412) 542-4163 for international callers, using the conference ID 10170457. A replay will be available until September 6, 2022 at specified numbers.
Kirkland's, Inc. (KIRK) announced the appointment of Mike Madden as its new Chief Financial Officer, effective September 1, 2022. With over 15 years of executive experience, including 18 years previously at Kirkland's, Madden is expected to provide continuity and expertise during a transformative period for the company. CEO Steve Woodward expressed confidence in Madden's ability to navigate macroeconomic challenges and drive growth, aiming to enhance shareholder value through strategic financial management.
Kirkland's, Inc. (Nasdaq: KIRK) announced the departure of CFO and COO Nicole Strain, effective August 31, 2022. The company is initiating an executive search for a new CFO and will rely on a newly-formed Office of the CFO co-led by Anna Wilhoit and Jessica Tatum. The COO's responsibilities are being reassigned to other senior operations team members. CEO Steve Woodward expressed gratitude for Strain's leadership. Kirkland's anticipates reporting its fiscal Q2 2022 results in late August 2022.
Kirkland's Home (KIRK) announced a partnership with Ryder to introduce an in-home delivery service across the lower 48 states, set to launch by the end of July 2022. This initiative aims to enhance customer convenience by offering delivery, light assembly, and packaging disposal for large home décor and furniture items. The program, initially tested in over 25 major markets, will upgrade Kirkland's logistics capabilities, promoting a seamless shopping experience online and in-store. This collaboration is expected to attract more customers and improve competitiveness in the home furnishing sector.
Kirkland's Home (Nasdaq: KIRK) reported a challenging first quarter of 2022, with net sales decreasing to $103.3 million from $123.6 million in the prior year. Comparable sales fell 15.8%, including a 23.6% drop in e-commerce. The company's gross profit margin stood at 27.4%, down from 32.6% year-over-year. Kirkland's faced macroeconomic headwinds, resulting in a GAAP loss of $7.9 million or $0.63 per diluted share. The company ended the quarter with a cash balance of $5.4 million and outstanding debt of $35 million.
Kirkland's, Inc. (Nasdaq: KIRK) will host a conference call on May 31, 2022, at 9:00 a.m. Eastern time to discuss its financial results for the first quarter ended April 30, 2022. This call will provide insights into the company's performance and future outlook. Interested parties can join via toll-free dial-in or access a live broadcast through the company's website. A replay will be available post-call until June 7, 2022.
Kirkland's has generated approximately $300 million in operating cash flow over the past ten years, equating to 3x its market cap. The company has $80 million in cash and access to capital that equals its market cap. Osmium Partners, owning 13% of Kirkland's shares, advocates for a share buyback program, suggesting the potential to repurchase 50% of the shares for $42 million. Kirkland's trading at 2.4x its average cash flow indicates potential for shareholder value increase through aggressive buybacks.