Kirkland's, Inc. (NASDAQ: KIRK) today announced that, in advance of investor meetings the Company is conducting over the next two weeks, it reported sales for the nine-week period ended March 31, 2012. This period covers the first two fiscal months of the first quarter of fiscal 2012.
Net sales for the nine-week period ended March 31, 2012, increased 3.4% to $71.4 million compared with $69.0 million for the nine-week period ended April 2, 2011. Comparable store sales for the period decreased 1.3% compared with a decrease of 8.9% in the prior-year period.
Kirkland's intends to report sales results for the 13-week period ending April 28, 2012, and any update to its previously issued guidance for the first quarter, if necessary, on May 3, 2012. The Company will report earnings results for the first quarter of fiscal 2012 on May 18, 2012, with a conference call to follow later that same morning.
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 299 stores in 30 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 14, 2011.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