Jackson, Tenn. - June 4 - Kirkland Inc.’s net sales decreased 12% in the first quarter of 2007, down to $82.3 million from $92.6 million in the year-ago period. The company more than doubled its loss in the quarter, registering a net loss of $7.5 million compared to a net loss of $3 million last year.
“Consistent with our sales announcement in May, we reported earnings results outside our previously issued range due to fixed-cost de-leveraging and a shift in our effective tax rate,” said Kirkland CEO Robert Alderson. “Traffic trends were once again very challenging and reflect continued softness in the home decor retail sector.”
Source:http://www.chainstoreage.com/story.cfm?ID=95011IUI&RefPage=Homepage
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