KIRK - Kirkland's up 15% on topping expectations

Kirkland's (NASDAQ:KIRK) up 15% after beating earnings on top and bottom line, despite challenges from continued constraints in the global supply chain. Gross profit margin increased 600 basis points to 34.6% on optimizing merchandising assortment and cost reduction. Comparable sales decreased 5.2%, including an e-commerce decrease of 12.6%, while it increased approximately 5% compared to the same period in pre-pandemic 2019. The company authorized to repurchase in the aggregate of $20M of the outstanding common stock. In 2H21, the company expects to achieve a mid-single-digit same-store sales increase, primarily driven by better inventory positions in key categories and continued growth in average ticket. In addition, the Company anticipates year-over-year earnings growth despite absorbing significant incremental freight costs. Webcast Previously (Sept. 02):Kirkland's EPS beats by $0.09, beats on revenue

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Kirkland's up 15% on topping expectations