Core Viewpoint - Kirkland's, Inc. has received approximately 94.3% of votes in favor of a proposal to issue shares to Beyond, Inc. as part of a strategic partnership, although the total proxies received represent only 37.2% of total shares outstanding, necessitating an extension of the voting deadline to meet quorum requirements [3][4]. Company Overview - Kirkland's, Inc. is a specialty retailer of home décor and furnishings in the United States, operating 326 stores across 35 states and an e-commerce platform [5]. Voting and Shareholder Engagement - The special meeting for shareholders was originally scheduled for December 23, 2024, but has been adjourned to allow more time for shareholders to participate and meet quorum requirements [2][4]. - The preliminary voting results indicate strong support from shareholders for the strategic partnership with Beyond, Inc., which aims to enhance the Bed Bath and Beyond brand and accelerate growth [3][4]. Strategic Partnership - The partnership with Beyond, Inc. is viewed as a key milestone for Kirkland's, aimed at strengthening its financial position and revitalizing the Bed Bath and Beyond brand [4]. - Both companies express confidence in the management teams and the potential for growth through an omni-channel offering for customers [4].

Store Operations - As of November 2, 2024, the company operated 325 stores across 35 states, with a total square footage of 2,635,551[83] - The company reported a decrease in store units by 0.0% in the 13-week period ended November 2, 2024, compared to a decrease of 0.3% in the previous year[91] - The average square footage per store increased slightly to 8,109 as of November 2, 2024, from 8,095 a year earlier[91] Financial Performance - Net sales decreased 1.7% to $114.4 million for the third 13 weeks of fiscal 2024 compared to $116.4 million for the prior year period[92] - Comparable sales decreased 3.0%, or $3.5 million, for the third 13 weeks of fiscal 2024 compared to the prior year period[92] - E-commerce comparable sales decreased 14.9%, while store comparable sales increased 1.6% compared to the prior year period[92] - Net sales decreased 3.4% to $292.5 million for the first 39 weeks of fiscal 2024 compared to $302.7 million for the prior year period[102] - E-commerce comparable sales decreased 15.0% for the first 39 weeks of fiscal 2024 compared to the prior year period[102] - Net loss reported was $7.7 million, or a loss of $0.59 per diluted share, for the third 13 weeks of fiscal 2024[99] - Net loss for the first 39 weeks of fiscal 2024 was $31.0 million, or a loss of $2.38 per diluted share, compared to a net loss of $37.9 million, or a loss of $2.95 per diluted share in the prior year[108] Operating Expenses - Operating expenses are a significant component of performance, with compensation and benefits making up the majority of these costs[89] - The company aims to manage its operating expense ratio effectively to enhance overall profitability[89] - Compensation and benefits as a percentage of net sales increased by 10 basis points to 19.6% in fiscal 2024, mainly due to higher store payroll costs[104] - Other operating expenses decreased by 110 basis points to 13.7% of net sales, primarily due to reduced advertising costs[105] - Other operating expenses as a percentage of net sales decreased approximately 130 basis points from 13.8% to 12.5%[96] Debt and Financing - The company entered into a strategic partnership with Beyond on October 21, 2024, involving a $17 million financing arrangement to improve liquidity and reduce existing debt[85] - Total outstanding borrowings as of November 2, 2024, amounted to $85.8 million, with long-term debt at $80.4 million, a significant increase from $34.0 million in the previous period[121] - The company borrowed $17.0 million under the Beyond Credit Agreement and a net $31.0 million under the revolving credit facility during the first 39 weeks of fiscal 2024[120] - Loss on extinguishment of debt was $3.3 million in the third 13 weeks of fiscal 2024, primarily related to a prepayment penalty[97] - Prepayment penalties and debt issuance costs totaled $4.3 million during the first 39 weeks of fiscal 2024[120] Profitability Metrics - Gross profit as a percentage of net sales increased 180 basis points from 26.3% to 28.1% in the third 13 weeks of fiscal 2024[93] - Gross profit margin increased by 190 basis points from 24.4% in the first 39 weeks of fiscal 2023 to 26.3% in fiscal 2024, driven by lower outbound freight costs and improved merchandise margin[103] - Distribution center costs decreased 130 basis points to 4.8% of net sales due to improved cost capitalization in inventory[94] - Outbound freight costs decreased approximately 120 basis points to 6.7% of net sales, attributed to reduced shipping expenses and better management of store routes[103] - Distribution center costs fell by about 70 basis points to 5.3% of net sales due to increased efficiency and lower fixed costs from the closure of two e-commerce fulfillment locations[103] Macroeconomic Environment - The macroeconomic environment remains challenging, with inflationary pressures and high interest rates impacting consumer spending and operational performance[86] - The company has faced difficulties in executing strategic initiatives due to negative macroeconomic factors affecting cash flows and liquidity levels[86] Cash Flow and Capital Expenditures - Cash used in operating activities decreased to approximately $39.0 million in fiscal 2024 from $42.7 million in fiscal 2023, reflecting improved operating results[117] - Capital expenditures for the first 39 weeks of fiscal 2024 were $1.7 million, down from $3.3 million in the prior year, primarily focused on existing store maintenance and technology projects[118] Risk Management - The company manages cash and cash equivalents beyond federally insured limits, posing a risk to the recovery of the full principal of investments[127] - The company is exposed to interest rate changes due to borrowings under long-term debt agreements, which bear interest based on variable rates[126] - The company has not engaged in any foreign exchange contracts, hedges, interest rate swaps, derivatives, or other financial instruments as of November 2, 2024[127] Taxation - Income tax expense for the first 39 weeks of fiscal 2024 was approximately $549,000, or (1.8)% of the loss before income taxes, compared to $720,000, or (1.9)% in the prior year[107] Shareholder Actions - The company has a share repurchase plan in place, details of which can be found in the condensed consolidated financial statements[122]

NASHVILLE, Tenn., Nov. 22, 2024 /PRNewswire/ -- Kirkland's, Inc. (Nasdaq: KIRK) ("Kirkland's " or the "Company"), a specialty retailer of home décor and furnishings, today announced that its financial results for the third quarter of fiscal 2024 will be released before market open on Friday, December 6, 2024. The Company will host a conference call at 9:00 a.m. Eastern Time to discuss the financial results.Date: Friday, December 6, 2024Time: 9:00 a.m. Eastern TimeToll-free dial-in number: 1-855-560-2577Inte ...

Boston, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, will provide real estate consulting services in support of Kirkland’s Inc.’s store growth strategy following the payoff of the firm’s $12 million term loan.The U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand has launched a new partnership with Beyond Inc., the U.S. owner of Bed Bath & Beyond, Overstock, Zulily and other online retail brands. Additionally, Beyond has invested in Kirkland’s ...

Sales Performance - Net sales decreased by 3.6% to $86.3 million for the 13-week period ended August 3, 2024, compared to $89.5 million for the same period in 2023[61] - Comparable sales decreased by 1.7%, or $1.4 million, with e-commerce comparable sales down 10.6% and store comparable sales up 1.8%[61] - Net sales decreased by 4.5% to $178.0 million for the first 26 weeks of fiscal 2024 compared to $186.4 million for the prior year period[66] - E-commerce comparable sales decreased by 15.1%, while store comparable sales increased by 2.3% for the first 26 weeks of fiscal 2024[66] Profitability - Gross profit as a percentage of net sales increased by 100 basis points to 20.5% in the second 13 weeks of fiscal 2024, up from 19.5% in the prior year[62] - Gross profit margin increased by 190 basis points from 23.2% to 25.1% due to favorable outbound freight costs and merchandise margin[67] - Merchandise margin improved by approximately 90 basis points to 52.1% due to favorable shrink and damages[62] - Net loss for the second 13 weeks of fiscal 2024 was $14.5 million, or a loss of $1.11 per diluted share, compared to a net loss of $19.4 million, or a loss of $1.51 per diluted share, in the prior year[65] - Net loss for the first 26 weeks of fiscal 2024 was $23.3 million, or a loss of $1.79 per diluted share, compared to a net loss of $31.5 million, or a loss of $2.46 per diluted share in the prior year[69] - Operating loss improved by 26.4% to $13.32 million from $18.09 million in the prior year[61] - Operating loss improved by $7.6 million, from a loss of $28.4 million in the prior year to a loss of $20.8 million in fiscal 2024[66] Operating Expenses - Total operating expenses decreased by 12.8% to $30.98 million, down from $35.53 million in the prior year[61] - Compensation and benefits as a percentage of net sales increased to 21.6% from 21.5% in the prior year[63] - Other operating expenses as a percentage of net sales decreased to 13.2% from 15.7% in the prior year, primarily due to reduced advertising costs[63] - Compensation and benefits as a percentage of net sales increased to 21.3% in fiscal 2024 from 21.1% in fiscal 2023[68] - Other operating expenses as a percentage of net sales decreased to 14.4% in fiscal 2024 from 15.5% in fiscal 2023[68] Capital Expenditures and Cash Flow - Total capital expenditures for the first 26 weeks of fiscal 2024 were $1.2 million, down from $2.3 million in the prior year[75] - Cash used in operating activities decreased to approximately $26.4 million in fiscal 2024 from $28.5 million in fiscal 2023[75] - In the first 26 weeks of fiscal 2024, net cash provided by financing activities was $28.2 million, compared to approximately $30.5 million in the same period of fiscal 2023[76] Debt and Financing - As of August 3, 2024, outstanding borrowings under the 2023 Credit Agreement were $52.7 million, $34.0 million, and $46.0 million for the dates August 3, 2024, February 3, 2024, and July 29, 2023, respectively[82] - The company entered into a $12.0 million "first-in, last-out" delayed-draw asset-based Term Loan, maturing in March 2028, with an initial interest rate of one-month term SOFR plus a margin of 9.50%[80] - The 2023 Credit Agreement was amended to increase the revolving credit facility from $75.0 million to $90.0 million, with a maturity date extended to March 2028[77] - As of August 3, 2024, the company had approximately $7.9 million available for borrowing under the 2023 Credit Agreement and the Term Loan[82] - The company did not repurchase any shares under its $30.0 million share repurchase plan during the first 26 weeks of fiscal 2024 or 2023, with approximately $26.3 million remaining under the plan as of August 3, 2024[83][84] - A one percent increase or decrease in the interest rate on borrowings under the 2023 Credit Agreement or Term Loan would not have a material impact on the company's results of operations[87] - The company is subject to a Security Agreement, pledging a lien on substantially all assets to secure obligations under the 2023 Credit Agreement[79] - The company has not engaged in any foreign exchange contracts, hedges, interest rate swaps, derivatives, or other financial instruments as of August 3, 2024[88] - The company remains in compliance with the covenants in the 2023 Credit Agreement and the Term Loan as of August 3, 2024[82] Store Operations - The company operated a total of 325 stores as of August 3, 2024, down from 340 stores as of July 29, 2023[59]

NASHVILLE, Tenn., Aug. 22, 2024 /PRNewswire/ -- Kirkland's, Inc. (Nasdaq: KIRK) ("Kirkland's Home" or the "Company"), a specialty retailer of home décor and furnishings, today announced that its financial results for the second quarter of fiscal 2024 will be released before market open on Thursday, September 5, 2024. The Company will host a conference call at 9:00 a.m. Eastern Time to discuss the financial results. Contact: Date: Thursday, September 5, 2024 Time: 9:00 a.m. Eastern Time Toll-free dial-in num ...

Newsweek partnered with Statista to survey more than 7,000 shoppers resulting in a ranking that recognizes the 200 best places to make a purchase. Survey participants were asked how likely they are to recommend a retailer and to give their thoughts on an outlet's prices, selection and atmosphere. Customer service and accessibility were also considered. | --- | --- | |-------------------------------------|---------------------| | | ICR | | Kirkland's Home | Caitlin Churchill | | Contact: Mike Madden 1-615-87 ...

Amy Sullivan was elected and Ann Joyce was re-elected to the Board of Directors (the "Board"). R. Wilson Orr, III and Steven J. Collins did not receive a majority of the votes cast, and each offered his resignation from the Board. The Board, after considering the shareholder vote, accepted the resignations, effective immediately, while acknowledging the significant contribution to the Company made by Messrs. Orr and Collins over their distinguished tenures. Also, effective immediately, the Board appointed M ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended May 4, 2024 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to ______. Commission file number: 000-49885 Kirkland's, Inc. (Exact name of registrant as specified in its charter) incorporation or organization) 5310 Maryland Way ...

Exhibit 99.1 KIRKLAND'S HOME REPORTS FIRST QUARTER 2024 RESULTS NASHVILLE, Tenn. (June 6, 2024) — Kirkland's, Inc. (Nasdaq: KIRK) ("Kirkland's Home" or the "Company"), a specialty retailer of home décor and furnishings, announced financial results for the 13-week period ended May 4, 2024. First Quarter 2024 Summary Management Commentary Amy Sullivan, CEO of Kirkland's Home, said, "We are continuing to see progress on our strategic initiatives as demonstrated by our comparable sales growth of 2.8% in our bri ...