Kirkland's, Inc.
Company Description
Kirklands, Inc. is a specialty retailer of home decor in the United States. The company operates over 299 stores in 35 states and has a market cap of $130.5 million.
Kirkland's received a nice boost from its fourth-quarter results, reported on Mar 20, coming in ahead of expectations. Comparable store sales were up 5.3% from last year. Net income came in at $15 million, up from $1.5 million last year, producing earnings of 59 cents per share, beating the consensus by 7 cents.
Full-Year Results
Full-year income came in at $9.3 million, up from a loss of $25.9 million last year. Earnings totaled 47 cents per share, a big improvement from a loss of $1.33 last year.
CEO Speak
Kirkland CEO Robert Alderson set an optimistic tone while announcing the strong results, saying "While it is early yet, we are also encouraged by positive sales and margin trends experienced so far in the first quarter of 2009."
Estimates Surge
After the solid quarter, the two covering analysts raised their earnings projections, with the current-year up 17 cents to 46 cents per share, a 53% earnings growth projection from the previous year.
The Chart
Shares of KIRK have been on a big rally over the last 4 weeks, climbing from just over $3 to a recent high above $7. Take a look below.
