Same store sales rise at Kirkland's Inc. in 1st quarter
-- Home Accents Today, 5/21/2009 12:06:00 PM
Kirkland's, Inc. today reported that comp store sales for the first quarter of fiscal 2009 increased 5.2% compared with 4.3% in the same period last year. The company also reported that the 13-week period ended May 2, 2009, marks Kirkland’s highest first quarter earnings as a public company.
For the 13-week period ended May 2, 2009, net sales were $83.3 million compared with $84.1 million for the 13-week period ended May 3, 2008. The company opened three stores and closed 10 stores during the quarter to end the period with 292 stores.
President and CEO Robert Alderson said, "Customers are responding well to our merchandise assortments, and traffic was up slightly during the quarter. We continue to benefit from a lower cost structure -- particularly in occupancy costs. Additionally, lower inbound and outbound freight costs had a positive effect on margin during the quarter.
"While the first quarter presented somewhat easier sales and margin comparisons, we are very pleased with the strong start to the year. We continue to focus on value, controlling operating costs and inventory, and improving our store base. While pleased with our operating performance thus far in 2009, economic conditions continue to cloud forward visibility."
Kirkland's, Inc. was founded in 1966.
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