Kirkland's(US:KIRK) Prnewswire·2025-02-05 21:15Core Insights - Kirkland's shareholders approved the issuance of common stock related to a transaction with Beyond, Inc., with 97% of votes in favor [1] - Beyond has invested a total of $25 million in Kirkland's, acquiring approximately 40% of its outstanding shares [1] - The transaction is seen as a pivotal moment for Kirkland's, aimed at revitalizing the brand and enhancing growth opportunities [2] Financial Details - Beyond completed an $8 million equity purchase and converted an $8.5 million convertible term loan [1] - The total capital provided by Beyond to Kirkland's amounts to $25 million [1] Strategic Initiatives - Kirkland's is focusing on reengaging its core customers, refocusing product assortment, and strengthening omni-channel capabilities [2] - Plans are in place for the opening of the first Bed Bath & Beyond store later in the year [2] - The partnership aims to leverage strengths in merchandising, store operations, and supply chain to build a cohesive omni-channel strategy [2] Company Overview - Kirkland's operates 317 stores across 35 states and has an e-commerce platform [3] - The company offers a curated selection of home décor and furnishings, emphasizing quality and value [3]