Kirkland's Provides Update on First Quarter 2013 Results
Announces First Quarter Release Dates and Presentation at Baird's Growth Stock Conference
Kirkland's expects to report net sales, comparable store sales and net income for the 13 weeks ended May 4, 2013, at the high end of its previous guidance range. The Company's prior guidance for the first quarter of fiscal 2013 was as follows: net sales in the range of $99 million to $101 million; a comparable store sales decrease of 5% to 3%; and net income of $0.02 to $0.05 per diluted share. For the first quarter of fiscal 2012, the Company reported net sales of $97.8 million; a comparable store sales decrease of 1.2%; and net income of $0.10 per diluted share. Kirkland's opened 1 store and closed 7 during the first quarter of fiscal 2013, bringing the total number of stores to 317 at quarter end.
First Quarter 2013 Investor Conference Call and Web Simulcast
Kirkland's will issue its sales and earnings results for the first quarter before the market opens on Thursday, May 23, 2013, and will host a conference call on the same day at 11 a.m. ET. The number to call for the interactive teleconference is (212) 231-2919. A replay of the conference call will be available through Thursday, May 30, 2013, by dialing (402) 977-9140 and entering the confirmation number, 21646240.
A live broadcast of Kirkland's quarterly conference call will be available online at the Company's website www.kirklands.com under Investor Relations or http://www.videonewswire.com/event.asp?id=93882 on May 23, 2013, beginning at 11 a.m. ET. The online replay will follow shortly after the call and continue for one year.
Baird 2013 Growth Stock Conference Participation
Kirkland's also announced that it will be making a presentation at Baird's 2013 Growth Stock Conference being held at the Four Seasons Hotel in Chicago, Illinois. The Company's presentation will take place on Tuesday, May 7, 2013, from 11:30 a.m. - 12:00 p.m. CT, with a brief breakout session immediately following.
The live simulcast of Kirkland's presentation will be available online at the Company's website, www.kirklands.com, and at http://wsw.com/webcast/baird34/kirk/. The online replay will be available shortly after the presentation and will continue for 90 days following the conference.
Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home décor in the United States. Although originally focused in the Southeast, the Company has grown beyond that region and currently operates 317 stores in 35 states. The Company's stores present a broad selection of distinctive merchandise, including framed art, mirrors, candles, lamps, picture frames, accent rugs, garden accessories and artificial floral products. The Company's stores also offer an extensive assortment of gifts, as well as seasonal merchandise. More information can be found at www.kirklands.com.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking statements involve known and unknown risks and uncertainties, which may cause Kirkland's actual results to differ materially from forecasted results.Those risks and uncertainties include, among other things, the competitive environment in the home décor industry in general and in Kirkland's specific market areas, inflation, product availability and growth opportunities, seasonal fluctuations, and economic conditions in general.Those and other risks are more fully described in Kirkland's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K filed on April 18, 2013.Kirkland's disclaims any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.
W. Michael Madden, 615-872-4800
Senior Vice President & CFO
Corporate Communications, Inc.
Tripp Sullivan, 615-324-7335
KEYWORDS: United States North America Illinois Tennessee
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