Kirkland's, Inc. reported net sales of $81.5 million for the first quarter of fiscal 2025, a decrease from $91.8 million in the prior year quarter. Comparable sales declined by 8.9%, with store comparable sales down 3.1% and e-commerce sales down 26.7%. The company posted a net loss of $11.8 million, or $0.54 per diluted share, compared to a net loss of $8.8 million, or $0.68 per diluted share, in the prior year.
The company announced plans to rebrand and change its corporate name from Kirkland's Inc. to The Brand House Collective, Inc., pending shareholder approval on July 24, 2025. The ticker symbol will also change from 'KIRK' to 'TBHC'. This rebranding reflects a transformation into a multi-brand merchandising, supply chain, and retail operator for Kirkland's Home and Beyond, Inc.'s portfolio of brands.
As part of an operational reset, Kirkland's plans to streamline its footprint, moving forward with approximately 290 store locations and accelerating brand conversions. The first Bed Bath & Beyond Home store is planned to open in Brentwood, TN, in August 2025, with five more in the Nashville market. Additionally, the company announced significant changes to its Board of Directors, appointing four new members, including two nominated by Beyond, Inc., and accepting five resignations.
The company also disclosed that a tornado hit its Jackson, Tennessee distribution center on May 20, 2025, causing damage and disruptions, particularly to its e-commerce channel. While insurance policies are in place, the full amount of property damage and business interruption costs and recoveries cannot yet be estimated. The Q1 fiscal 2025 earnings conference call was cancelled due to these strategic and organizational changes.
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