Financial Data and Key Metrics Changes - For the first quarter, net sales were $96.9 million compared to $103.3 million in the prior year quarter, reflecting a 4% decline in average store count and a comparable store sales decline of 4.4% [37] - Gross profit margin declined 70 basis points to 26.7% of sales compared to 27.4% in the prior year quarter [38] - Adjusted EBITDA, excluding impairment and other minor expenses, was negative $5.8 million for the current quarter, with operating loss improving to $10.3 million versus $11.1 million in the prior year quarter [85] Business Line Data and Key Metrics Changes - E-commerce represented 27% of total sales in the quarter, down from 28% in the prior year quarter, indicating a slight channel shift with stores performing slightly better [69] - Merchandise margin increased 160 basis points to 56.8% versus 55.2% in the prior year quarter, driven by lower freight rates and product costs [70] Market Data and Key Metrics Changes - Comparable store sales were down 9% in February, followed by a decrease of 8% in March, and an increase of 6% in April, attributed to a successful promotional event [15] - Store sales results were consistent across geographic regions, with better performance in the Southeast and Florida, while the Upper Midwest and Northeast showed weaker results [15] Company Strategy and Development Direction - The company is focusing on recapturing sales and product margin by adjusting merchandise assortment to emphasize value decor under $20 and enhancing promotional strategies [6][21] - A strategic promotional calendar is being created to engage customers with seasonally relevant items at lower price points [5] - The company plans to refine its long-term vision and strategic plans to capitalize on brand potential, emphasizing value-oriented and stylish home decor [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in customer engagement and traffic trends, indicating that Q2 is viewed as a transition quarter with expectations for improvement in the back half of the year [23][45] - The company is optimistic about returning to positive adjusted EBITDA generation and creating sales momentum that can carry into 2024 [20] Other Important Information - Central distribution costs increased 100 basis points to 5.6% of sales from 4.6% in the prior year quarter due to sales deleverage [16] - The company plans to introduce more products that promote gifting and entertaining during the holiday season, addressing missed opportunities from the previous year [38] Q&A Session Summary Question: What are the traffic trends and expectations for the remainder of the year? - Management indicated that Q2 is a transition quarter with expectations for improvement in the back half of the year, driven by upcoming promotional events and changes in merchandise assortment [22][23] Question: How do you expect gross margin to play out in Q2? - Management expects gross margin to improve year-over-year, although it may be sequentially down from Q1 due to typical seasonal trends [93] Question: What changes are being made to the store portfolio? - The company is in maintenance mode regarding its store portfolio, aiming to hold store count steady while evaluating underperforming locations for potential closures [48]

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 April 29, 2023 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) Tennessee 62-1287151 (State or other jurisdict ...

Financial Data and Key Metrics Changes - For the fourth quarter, net sales were $162.5 million compared to $176.2 million in the prior year quarter, reflecting a 4% decline in store count and a comparable store sales decline of 6.1% [112] - Gross profit margin declined 850 basis points to 24.8% of sales, compared to 33.3% in the prior year quarter, with merchandise margin declining 420 basis points to 49.9% [113] - Adjusted loss per share was $0.09 compared to adjusted earnings per share of $0.84 in the prior year quarter [15] Business Line Data and Key Metrics Changes - Comparable store sales results were largely driven by a year-over-year traffic decline, partially offset by an increase in the average ticket [81] - E-commerce accounted for 25% of total sales in the quarter, similar to the prior year [81] - Central distribution costs increased 170 basis points to 6.3% of sales from 4.6% in the prior year quarter due to operational inefficiencies [13] Market Data and Key Metrics Changes - Sales trends in early fiscal 2023 remained challenging, with comp sales trends down in the high single-digit range [16] - The company experienced a decline in traffic trends both in-store and online [16] - The company noted that geographic areas showed no significant differences in performance during the fourth quarter [27] Company Strategy and Development Direction - The company is focusing on rebalancing its merchandise assortment with an emphasis on opening price points starting in the $20 range [108] - A strong selling culture is being promoted among store employees to drive improved conversion with the updated merchandise mix [77] - The company aims to reduce borrowings and re-establish liquidity before focusing on growth and ROI opportunities [88] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the macroeconomic environment but expressed confidence in the company's ability to navigate these issues and achieve long-term success [76] - The company expects to see material margin improvements starting in the first quarter of fiscal 2023 due to lower inbound freight costs [78] - Management emphasized the importance of customer data insights to drive merchandise and promotional strategies [109] Other Important Information - The company announced an extension of its existing credit agreement, increasing the line of credit to $90 million from $75 million [116] - The company generated over $40 million in operating cash flow, allowing it to repay $45 million in debt [75] - The CEO announced plans to retire at the end of May, with an interim CEO appointed to ensure a smooth transition [4] Q&A Session Summary Question: What is the expected impact of rebalancing the merchandise assortment on overall average ticket and comps? - Management indicated that they expect to see a traditional ramp-up in sales as they adjust the merchandise assortment, aiming to return comps from down high single-digits to flat or positive [20][24] Question: Were there any regional differences in same-store sales? - Management noted that there were no significant geographic differences in performance during the fourth quarter [27] Question: How is the company addressing the higher cost inventory? - Management stated that they are working to flush out higher cost inventory and expect to see improvements in merchandise margins as they move forward [131][147] Question: What strategies are being implemented to drive traffic to stores? - Management is focusing on a promotional strategy that emphasizes lower price points and effective marketing to attract customers [148][150]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended January 28, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND 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) Tennessee 62-1287151 (State o ...

Kirkland's, Inc. (NASDAQ:KIRK) Q3 2022 Earnings Conference Call December 2, 2022 9:00 AM ET Company Participants Cody Cree - Director of IR Steven Woodward - President and CEO Mike Madden - EVP and CFO Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Jeremy Hamblin - Craig-Hallum Capital Group John Lawrence - The Benchmark Company Operator Good morning, everyone, and thank you for participating in today's conference call to discuss Kirkland's financial results for the Third Quarter ende ...

Commission file number: 000-49885 Kirkland's, Inc. (Exact name of registrant as specified in its charter) Tennessee 62-1287151 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 October 29, 2022 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to ______. 5310 Maryland Way Brent ...

Kirkland's, Inc. (NASDAQ:KIRK) Q2 2022 Earnings Conference Call August 30, 2022 9:00 AM ET Company Participants Cody Cree - Gateway Group, Inc., Investor Relations Steve Woodward - President and Chief Executive Officer Nicole Strain - Chief Operating Officer and Chief Financial Officer, Executive Vice President Conference Call Participants Jeremy Hamblin - Craig Hallum Capital Group Anthony Lebiedzinski - Sidoti and Company John Lawrence - The Benchmark Company David Berman - Berman Capital Presentation Op ...

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 July 30, 2022 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) Tennessee 62-1287151 (State or other jurisdicti ...

Kirkland's, Inc. (NASDAQ:KIRK) Q1 2022 Earnings Conference Call May 31, 2022 9:00 AM ET Company Participants Cody Cree - Director of IR Steve Woodward - CEO Nicole Strain - COO and CFO Conference Call Participants Jeremy Hamblin - Craig-Hallum Capital Group Anthony Lebiedzinski - Sidoti John Lawrence - The Benchmark Company John Lewis - Osmium Partners Operator Good morning, everyone. And thank you for participating in today's conference call to discuss Kirkland’s Financial Results for the First Quarter End ...

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 April 30, 2022 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 W ...