Kirkland's Q3 Results Miss Estimates

(RTTNews) - Specialty retailer Kirkland's, Inc. (KIRK) reported Friday a third-quarter net loss of $7.3 million or $0.58 per share, compared to net income of $7.2 million or $0.51 per share in the prior-year quarter.

Excluding items, adjusted net loss for the quarter was $4.8 million or $0.38 per share, compared to an adjusted net income of $7.3 million or $0.51 per share in the year-ago quarter.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.32 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter declined to $131.0 million from $143.6 million in the same quarter last year. Comparable sales decreased 7.0 percent. Analysts expected revenues of $134.26 million for the quarter.

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