Kirkland's Q1 Net Jumps 15.9 Percent
May 22, 2014,
NASHVILLE, Tenn.-Strong sales both in stores and online helped Kirkland's grow its first-quarter net income by 15.9 percent to $2.1 million.
Net sales totaled $108.3 million, up 6.9 percent and including a 5 percent gain in same-store sales in the quarter, which ended on May 3. The comparable-store number included e-commerce sales. Robert Alderson, Kirkland's president and CEO, noted that the specialty retailer overcame a sluggish start, caused in part by the difficult weather in some of its markets, to finish the quarter with stronger momentum.
Gross margin gained 42 basis points to 39.4 percent. Operating expenses increased 6.6 percent in dollars but were down 10 basis points as a percentage of sales, to 32.3 percent.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money