Kirkland’s reports Q3 adjusted EPS (29c) vs. (45c) last year

Reports Q3 revenue $114.4M vs. $116.4M last year. Overall comparable sales decreased 3.0%, inclusive of comparable store growth of 1.6% compared to Q3 2023 despite approximately 1.0% headwind from hurricane disruptions across stores. Amy Sullivan, CEO of Kirkland’s (KIRK), said, “The third quarter marked our fourth consecutive quarter of positive comparable store sales growth and significant year-over-year improvement in Adjusted EBITDA. I am immensely proud of our team’s ability to deliver progress towards our initiatives of re-engaging our core customer, refocusing our product assortment and strengthening our omni-channel capabilities while we continued to conservatively deploy capital based on our near-term financial priorities.” Sullivan continued, “This quarter also marked a pivotal moment for Kirkland’s as we entered into a strategic partnership with Beyond enabling us to strengthen our financial position and providing new avenues for growth as the exclusive licensee of Bed Bath & Beyond neighborhood stores. We are thrilled to leverage our merchandising and brick-and-mortar strengths while positioning Kirkland’s as a multi brand retailer, with the first Bed Bath & Beyond neighborhood store opening next year. We believe in the opportunities that lie ahead as we build the foundation for growth and drive value for all stakeholders.”