Kirkland's, Inc. announced its financial results for the fourth quarter and fiscal year ended February 1, 2025. For Q4 2024, net sales were $148.9 million, with a comparable sales decrease of 0.6%, including a 1.6% increase in comparable store sales and a 7.9% decline in e-commerce sales.
Fourth quarter net income was $7.9 million, or $0.51 per diluted share, and adjusted EBITDA was $12.0 million. For the full fiscal year 2024, net sales were $441.4 million, with a comparable sales decrease of 2.0%, including a 1.9% increase in comparable store sales and a 12.9% decrease in e-commerce sales.
Fiscal year 2024 saw a net loss of $23.1 million, or $1.77 per diluted share, and an adjusted EBITDA loss of $2.3 million. As of February 1, 2025, the company had $3.8 million in cash, $43.0 million in revolving credit debt, and $17.0 million in debt to Beyond, Inc., with $4.3 million available under its revolving credit facility.
The company disclosed 'substantial doubt about its ability to continue as a going concern for a period of at least 12 months' due to uncertainties surrounding tariff policy and macroeconomic conditions. It also reported non-compliance with covenants under its revolving credit facility and the Beyond Credit Agreement as of February 1, 2025, but expects to receive waivers from both lenders in connection with planned financing.
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