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Net sales for the nine-week period ended March 31, 2012 jumped 3.4% to $71.4 million from $69.0 million for the nine-week period ended April 2, 2011. Kirkland’s comparable store sales declined 1.3% for the same period as against the decrease of 8.9% in the prior-year period.
Kirkland’s expects to report its earnings results for the first quarter of fiscal 2012 ending April 28, 2012 on May 18, 2012. The company expects sales in the range of $98 - $100 million and anticipated that comparable store sales would be flat to slightly positive for the first quarter of fiscal 2012.
In early-March, Kirkland's reported its results for the fourth-quarter of fiscal 2011 (ending January 28, 2012). The company reported earnings of 78 cents per share, which were ahead of the Zacks Consensus Estimate of 74 cents per share and the prior-year earnings of 70 cents per share. Kirkland’s earnings for the full fiscal year 2011 were 95 cents per share. The results surpassed the Zacks Consensus estimate of 91 cents, but were well below the year-ago earnings of $1.28 per share.
Kirkland’s net sales went up 6.8% year over year to $149.1 million in the quarter from $139.6 million in the year-ago quarter, while sales upped 3.6% year over year to $430.0 million in fiscal 2011.
Consolidated comparable store sales increased 1.4% in the fourth quarter 2011 as compared to a 7.9% decrease in the prior-year quarter. However, comparable store sales in fiscal 2011 decreased 4.0% compared with a 0.5% decrease in fiscal 2010.
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