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News and Information Article
Sets Dates for Earnings Release and Conference Call
JACKSON, Tenn., Nov. 2 /-FirstCall/ -- Kirklands, Inc.
(Nasdaq: KIRK) today announced sales for the 13-week and 39-week periods
ended October 28, 2006.
Net sales for the 13-week period ended October 28, 2006, increased 6.2%
to $95.8 million from $90.2 million for the 13-week period ended October
29, 2005. Comparable store sales for the third quarter of fiscal 2006
decreased 6.7%, in line with the Companys previously issued guidance of a
6% to 9% decrease. The Company reported a 3.4% comparable store sales
decrease in the prior-year quarter. Comparable store sales in mall stores
declined 9.1% while comparable store sales in off-mall stores declined
2.7%. The Company opened 17 stores and closed 3 stores during the quarter.
Net sales for the 39-week period ended October 28, 2006, increased 6.8%
to $279.4 million from $261.7 million for the 39-week period ended October
29, 2005. Comparable store sales for the 39 weeks ended October 28, 2006,
decreased 7.0% compared with an 8.1% decrease in the prior-year period.
Comparable store sales in mall stores declined 8.9% while comparable store
sales in off-mall stores declined 3.1%. The Company opened 36 stores and
closed 27 stores during the 39-week period.
Kirklands plans to issue its earnings release for the third quarter
before the market opens on November 17, 2006, and will host a conference
call on November 17, 2006, at 11:00 a.m. ET. During the call, the Company
will discuss its results of operations for the third quarter of fiscal
2006. The number to call for this interactive teleconference is (913)
981-5520. A replay of the conference call will be available through
November 24, 2006, by dialing (719) 457-0820 and entering the confirmation
number, 6441071.
The live broadcast of Kirklands quarterly conference call will be
available online at the Companys website, http://www.kirklands.com, or at
http://www.videonewswire.com/event.asp?id=35757 on November 17, 2006,
beginning at 11:00 a.m. ET. The online replay will follow shortly after the
call and continue through December 1, 2006.
Kirklands, Inc. was founded in 1966 and is a leading specialty
retailer of home decor in the United States. Although originally focused in
the Southeast, the Company has grown beyond that region and currently
operates 357 stores in 37 states. The Companys stores present a broad
selection of distinctive merchandise, including framed art, mirrors,
candles, lamps, picture frames, accent rugs, garden accessories and
artificial floral products. The Companys stores also offer an extensive
assortment of holiday merchandise, as well as items carried throughout the
year suitable for giving as gifts. More information can be found at
http://www.kirklands.com.
Except for historical information contained herein, the statements in
this release are forward-looking and made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which may cause Kirklands actual results to differ
materially from forecasted results. Those risks and uncertainties include,
among other things, the competitive environment in the home decor industry
in general and in Kirklands specific market areas, inflation, product
availability and growth opportunities, seasonal fluctuations, and economic
conditions in general. Those and other risks are more fully described in
Kirklands filings with the Securities and Exchange Commission, including
the Companys Annual Report on Form 10-K filed on April 12, 2006.
Kirklands disclaims any obligation to update any such factors or to
publicly announce results of any revisions to any of the forward-looking
statements contained herein to reflect future events or developments.
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