Q4 Sales Down, Comps Flat for Kirkland's
Posted on February 7, 2014 by
NASHVILLE, Tenn.-Tough weather conditions and the smaller holiday season muted Kirkland's fourth-quarter results, according to a preliminary statement on the quarter from the specialty retailer.
Net sales in the quarter, which ended on Feb. 1, fell 4.2 percent to $156.1 million. Same-store sales, which included e-commerce sales, were flat compared to last year's fourth quarter. For the full fiscal year, Kirkland's increased net sales by 2.7 percent to $460.6 million, including a 0.5 percent gain in same-store sales.
Commenting on the quarter, Robert Alderson, Kirkland's president and CEO, cited the "challenging weather and compressed holiday season that other retailers have noted to date in the quarter. Although we began with a strong November and record Black Friday weekend, we experienced frequent and severe weather-related declines in traffic throughout December, affecting important weekend sales days that could not be recovered."
Alderson also noted that sales improved during January, but felt the effects by storms affecting the South and Southeast. "Winter will not last forever," he said, "and as we enter fiscal 2014, we remain confident about our sales, multichannel, branding and store growth plans."
Kirkland's will issue its full earnings report for the quarter and the year on March 13.