KIRK - Kirkland's shares crash as losses widen sales slump

Kirkland’s Inc. (NASDAQ:KIRK) shares slid sharply on Tuesday after the company reported an inauspicious earnings result.  The home decor, furniture, and textile retailer reported Non-GAAP EPS of -$0.62, nearly doubling the loss anticipated by analysts. Meanwhile, revenue of $103.29M reflected an over 16% decline from the prior year- and narrowly missed Wall Street’s expectations. Comparable same-store sales were a significant sore spot, falling 15.8%, abetted by a 23.6% drop in e-commerce sales. "Our first quarter 2022 results reflect continued macroeconomic headwinds hampering consumer demand for home décor and furnishings," lamented CEO Steve "Woody" Woodward. "We were impacted by the shift in consumer spending stemming from rising interest rates, inflationary pressures and geopolitical conflicts that adversely affected our customer traffic and sales.” He added that supply chain issues and increased costs in terms of freight and transportation tamped down margins for the quarter and are likely to persist moving forward. Shares

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Kirkland’s shares crash as losses widen, sales slump