Kirkland’s Q4 profit falls
Nashville, Tenn. — Kirkland's Inc. said Thursday that its fourth-quarter profit fell about 35% as its sales softened.
The company reported net income of $14.4 million for the 13 weeks that ended Jan. 29, compared with $22.1 million a year earlier.
The results included an $800,000 income tax benefit related to prior years' taxes.
Quarterly net sales fell to $139.6 million, from $142.8 million in the prior-year period. Same-store sales were down 7.95%.
President and CEO Robert Alderson said Christmas sales were strong, and Kirkland finished the year with inventory levels on plan.