Why Kirkland's Shares Are Slipping Today?
Portfolio Pulse from Lekha Gupta
Kirkland's Inc (NASDAQ:KIRK) shares are down by over 8% after reporting weaker-than-expected Q2 FY23 results. Sales of $89.5 million missed the consensus of $91.86 million. Comparable same-store sales decreased by 9.7%, including a 16.6% Y/Y decline in e-commerce sales. The company is making changes to its merchandise assortment and marketing strategy to reconnect with core customers and attract more. The company expects these changes to lead to positive adjusted EBITDA in the back-half of fiscal 2023.
September 06, 2023 | 3:11 pm
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Kirkland's shares are down after reporting weaker-than-expected Q2 FY23 results. The company is making changes to improve performance and expects positive adjusted EBITDA in the back-half of fiscal 2023.
Kirkland's reported weaker-than-expected Q2 FY23 results, which has led to a drop in its share price. The company's sales missed the consensus and it saw a decline in comparable same-store sales. However, the company is making changes to its merchandise assortment and marketing strategy, which it expects will lead to positive adjusted EBITDA in the back-half of fiscal 2023. This could potentially improve the company's performance and its share price in the future.
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RELEVANCE 100