KIRK - Kirkland's shares rally on Q3 beat and e-commerce growth of 49.9%

Kirkland's ([[KIRK]] +21.8%) reported net sales increased 1.2% in Q3, with 51 fewer stores.Comparable sales increased 8.9% vs. -6.4% year ago, including e-commerce growth of 49.9%.Gross margin rate improved 840 bps Y/Y to 36.1%.Adjusted EBITDA was $18.7M vs. consensus of $1.7M and -$3.1M year-ago. Adjusted operating margin rate was 8.8% for the quarter.The company closed 6 stores in the quarter, bringing the total number of stores to 381.Board of Directors has authorized a new $20M share repurchase plan.CEO comment: "The increased demand driven by our e-commerce channel and the strong performance in both our harvest and Christmas season merchandise more than offset the 51 fewer stores in the base from a year ago. The late October re-launch of our loyalty program has already added hundreds of thousands of new members in a few weeks' time, and we are pleased with the response to Black Friday and Cyber Monday. Similar to others in our sector,

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Kirkland's shares rally on Q3 beat and e-commerce growth of 49.9%