Kirkland's Stock Tumbles On Heels Of Q1 Revenue Dip, Reduced Foot Traffic In Stores
Portfolio Pulse from Nabaparna Bhattacharya
Kirkland's reported Q1 FY23 sales decline of 6.2% YoY to $96.88 million, beating consensus estimates. However, adjusted EPS loss of $(0.95) missed analyst consensus of $(0.79) loss. The company experienced a decrease in same-store sales and e-commerce sales, primarily due to reduced foot traffic.
June 08, 2023 | 2:18 pm
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Kirkland's Q1 FY23 sales beat estimates, but adjusted EPS loss missed consensus. Reduced foot traffic led to a decrease in same-store and e-commerce sales.
Kirkland's reported a decline in sales and missed EPS consensus, which is likely to negatively impact the stock price in the short term. The decrease in foot traffic, which led to lower same-store and e-commerce sales, indicates potential challenges for the company's growth.
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IMPORTANCE 80
RELEVANCE 100