Moving Focused stock: Kirkland’s, Inc. (NASDAQ: KIRK)

On Monday, Kirkland’s, Inc. (KIRK) oscillated between $9.05 and $9.75 before concluding trading period lower -2.68% at $9.09 . The stock recorded total trading quantity of 695,850 shares as compared to its average volume of 150,610 shares. The share price fluctuated between $8.55 to $13.48 during the 52-week trading period. The firm has a total market worth of $150.61k and $142.581M shares remain outstanding.

Kirkland’s, Inc. (NASDAQ: KIRK) stated financial results for the 13-week and 26-week periods ended August 4, 2018.

Financial Performance

Net sales for the 13 weeks ended August 4, 2018 increased 1.7% to $133.9M contrast with $131.7M for the 13 weeks ended July 29, 2017. Net sales for the second quarter were driven by a raise in both store count and e-commerce revenue. Kirkland’s opened six stores and closed five during the second quarter, bringing the total number of stores to 426 at quarter-end. Comparable store sales, including e-commerce sales, reduced 3.9% contrast with a raise of 1.2% in the prior-year quarter. Brick-and-mortar traffic was challenging, which resulted in a decrease in transactions that was slightly offset by a higher average ticket. E-commerce sales were driven by gains in traffic and average ticket.

Net loss for the 13 weeks ended August 4, 2018 was $6.7M, or ($0.43) per diluted share contrast with a net loss of $3.8M, or ($0.24) per diluted share, for the 13 weeks ended July 29, 2017. Adjusted loss, not including transition charges associated with the resignation of the Company’s former Chief Executive Officer, for the 13 weeks ended August 4, 2018 was $6.4M, or ($0.40) per diluted share. An improvement in the merchandise margin in the second quarter, not including a one-time adjustment in the previous year, was offset by deleverage on store occupancy costs and rate pressure on transportation costs. Operating expenses as a percentage of sales declined versus the prior-year period.

Net sales for the 26 weeks ended August 4, 2018 increased 4.5% to $276.4M contrast with $264.5M for the 26 weeks ended July 29, 2017. Comparable store sales for the 26 weeks ended August 4, 2018, including e-commerce sales, reduced 1.2% contrast with a decrease of 1.4% in the prior-year period. Kirkland’s opened 16 stores and closed eight during the 26-week period ended August 4, 2018.

Net loss for the 26 weeks ended August 4, 2018 was $7.6M, or ($0.48) per diluted share contrast with a net loss of $5.2M, or ($0.33) per diluted share, for the 26 weeks ended July 29, 2017. Adjusted loss, not including severance and transition charges associated with the resignation of the Company’s former Chief Executive Officer, for the 26 weeks ended August 4, 2018 was $6.4M, or ($0.40) per diluted share.

In the liquidity ratio analysis; Kirkland’s, Inc.’s (KIRK) debt to equity ratio was 0.00 while current ratio was 1.90. The company has the institutional ownership of # ref while the Beta factor was 1.21. The stock’s RSI amounts to 22.90.

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