Kirkland’s reports Q1 EPS (54c) vs. (68c) last year

Reports Q1 revenue $81.5M vs. $91.8M last year. CEO Amy Sullivan said, “Like many in retail, our Q1 performance was impacted by weather and the continued softness in consumer sentiment. Despite these challenges, we saw improvements in our store performance for the combined March and April period…While encouraged by our store performance, it is time to accelerate our transformation. We have already begun to take actions in moving excess and slower turning inventory in the first quarter and will continue the elimination of underperforming assets as we expand the utilization of our Bed Bath & Beyond, Overstock and buybuy Baby licenses. We are entering a new era in our organization as we reimagine our future as a multi-brand retail operator maximizing our partnership with Beyond. We are realigning our business to drive performance and profitability – strengthening our team, sharpening our operational discipline to improve inventory productivity, and accelerating the brand conversion or closure of underperforming assets across our portfolio. While we expect these decisive actions and the optimization of our assets to impact near-term performance, we believe rebuilding our foundation will unlock significant operating leverage, drive sustainable profitable growth and create long-term value for our shareholders.”