Kirkland’s reports Q3 EPS (50c) vs. (58c) last year

Reports Q3 revenue $116.4M vs. $131.0M last year. “Q3 demonstrated execution of our strategic repositioning as we experienced sequential improvements in traffic and comparable sales each month of the quarter, along with expanded gross margins,” said interim CEO Ann Joyce. “Over the last six months, we have spent a significant amount of time assessing every aspect of the business and acted quickly to implement changes to better position us going into our ever-important holiday selling season. During the quarter, we saw promising indicators that our pivots are beginning to work…In fact, the trend continued into Q4, which has started off with a low single-digit increase in comparable sales for the month of November at a much-improved merchandise margin as we continue to execute against our holiday promotional strategy…We expect solid year-over-year improvement in profitability during the fourth quarter as we continue to progress towards our goal of returning to our historical average adjusted EBITDA margin in the mid-to-high single-digit range. In FY24, we will look to build off this recent momentum and continue to execute upon our strategy to return the company to profitable growth.”