On February 18, 2025, Kirkland's, Inc. provided a business update, including preliminary financial results for the fourth quarter of fiscal 2024. The company expects net sales of approximately $148 million, with a consolidated comparable sales decline of about 0.6%. This includes comparable store growth of 1.6% and an e-commerce decline of 7.9% compared to the prior year.
Kirkland's anticipates net income of approximately $7.9 million and diluted earnings per share of approximately $0.50 for the fourth quarter. Adjusted EBITDA is projected to be around $12.0 million. As of February 17, 2025, the company had $41.9 million of outstanding borrowings and letters of credit under its revolving credit facility, with $8.2 million in available liquidity.
CEO Amy Sullivan emphasized the company's focus on accelerating its transformation, leveraging new assets from the Beyond, Inc. partnership. The strategy includes an omnichannel retail approach centered on customer experience and disciplined capital allocation. Kirkland's plans to close some stores and eliminate low-performing SKUs as part of its efforts to advance towards profitability.
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