Kirkland's Reports Fourth Quarter Sales
February 21, 2020 at 07:00 AM EST
Net sales for the 13 weeks ended February 1, 2020 were $209.4 million compared with $216.1 million for the 13 weeks ended February 2, 2019. Comparable store sales, including e-commerce sales, decreased 2.7% compared to a decrease of 3.3% in the prior year. Kirkland's did not open or close any stores during the period. The Company had 432 stores at year end.
Net sales for the 52 weeks ended February 1, 2020 were $603.9 million compared with $647.1 million for the 52 weeks ended February 2, 2019. Comparable store sales, including e-commerce sales, decreased 7.1% compared to a decrease of 1.3% in the prior year. Kirkland's opened five stores and closed one store during the 52-week period ended February 1, 2020.
"The enhancements we are making to the merchandise assortment are gaining traction with customers, and we are seeing the benefit in the sequential comparable sales improvement through the second half of the year," said Woody Woodward, Chief Executive Officer. "Weaker sales in November were followed by a stronger December and January, led by an increase in e-commerce revenues of 38%. With $30 million in cash at year end, no debt, a more streamlined infrastructure and store closures in February and March, we believe we are well positioned to continue to execute on improving the relevancy and quality of our assortment."
Investor Conference Call and Web Simulcast
A live webcast of Kirkland's quarterly conference call will be available online on the Company's Investor Relations Page on March 13, 2020, beginning at 9:00 a.m. ET. The online replay will follow shortly after the call and continue for one year.
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