KIRK - Why Kirkland's Is Kicking It Higher Today
Shares of Kirkland's (NASDAQ: KIRK) were soaring 16% higher heading into midday trading on Thursday after the home goods retailer reported second-quarter earnings that handily beat analyst estimates, though top-line results just missed expectations.
The specialty retailer said revenue of $114.8 million was down 8% from the year-ago period as comparable-store sales fell 5.2% and e-commerce declined 12.6%. But adjusted losses of a penny per share were far less than the $0.05 per share Wall Street anticipated (analyst estimates typically don't include one-time items that adjusted results strip out).
The operator of 369 retail stores across 35 states and an e-commerce platform also announced it would be buying back up to $20 million worth of stock.
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Why Kirkland's Is Kicking It Higher Today