Kirkland's Shares Spike After Results Top Estimates

By Tonya Garcia Markets MarketWatch Pulse

Kirkland's Inc. shares jumped 19% in Tuesday trading after the home decor retailer reported better-than-expected second-quarter earnings. The company's net loss was $3.77 million, or 24 cents, compared with a loss of $3.57 million, or 22 cents per share, for the same period last year. The FactSet consensus was for a 28-cent loss. Sales for the quarter totaled $131.7 million, up from $123.0 million last year and ahead of the $126.0 million FactSet consensus. Same-store sales including e-commerce increased 1.2%, exceeding the 1% FactSet consensus. Kirkland's sees fiscal 2017 EPS in the range of 50 cents to 65 cents. The FactSet consensus is 53 cents. And the retailer has approved a $10 million stock repurchase plan. Kirkland's shares are down 35.7% for the year so far while the S&P 500 index is up nearly 9% for the period.

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