Kirkland's(US:KIRK) Prnewswire·2025-02-18 12:00Core Insights - Kirkland's, Inc. reported preliminary fourth quarter fiscal 2024 net sales of approximately $148 million, with comparable brick-and-mortar store sales growth of 1.6% and a consolidated comparable sales decline of approximately 0.6% [6][2] - The company aims to enhance profitability through strategic initiatives, including optimizing e-commerce performance and maximizing brand value [2][5] Financial Performance - For Q4 fiscal 2024, Kirkland's expects net income of approximately $7.9 million and diluted earnings per share of approximately $0.50, with adjusted EBITDA of approximately $12.0 million [6][15] - The company had $41.9 million in outstanding borrowings and letters of credit, with $8.2 million available after the minimum required availability covenant [6] Strategic Initiatives - The company is focused on three strategic initiatives: improving or eliminating underperforming assets, optimizing e-commerce performance, and maximizing the Kirkland's Home brand value and distribution [5][2] - Approximately 6% of stores have been identified as underperforming, with actions being taken to convert or close these locations [5] E-Commerce Strategy - Kirkland's plans to enhance its e-commerce performance by leveraging partnerships and improving site experience, while also reallocating inventory to maximize Buy Online Pick-up In Store (BOPIS) capabilities [5][6] - The company aims to eliminate SKUs that do not meet margin standards and expand product categories to drive average order value [5] Brand Expansion - There is a significant opportunity to expand the Kirkland's Home brand through private label distribution across its family of brands, including Bed Bath & Beyond and Overstock [5][2] - The company intends to leverage commitments from vendor partners to enhance product development and sourcing capabilities [5]