Kirkland's upbeat heading into holiday
Retail Editor 1 -- Home Textiles Today, November 21, 2013
Nashville, Tenn. - Improvements to product margins, conversion rates and average ticket resulted in positive results for Kirkland's during the third quarter.
The 324-unit home décor retailer swing to a profit of $1.0 million, or 6 cents per share, for the quarter ended Nov. 2 compared to a net loss of $400,000 during the year-ago period.
Sales climbed 9,8% to $106.1 million, with comps - which include online sales - up 4.9%.
Year-to-date, Kirland's reported net income of $2.2 million compared to a net loss of $500,000 in the same period last year. Sales climbed 6.7% to $304.5 million, with comps up 0.8%.
"Our outlook for the fourth quarter remains upbeat, and we are optimistic about the further rollout of our branding initiatives as well as the introduction of our loyalty program, K Club," said Robert Alderson, president and ceo.
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