Home decor retailer Kirkland's down after comparable sales decline, e-commerce challenges
06/12/2024 18:09
(Updates)
** Shares of home decor retailer Kirkland's KIRK.O down as
much as 12.9% to $1.76
** Co posts Q3 comparable sales decline of 3% from a year
ago due to a decrease in consolidated average ticket and
e-commerce conversion, hurricane disruptions
** Co also reports a 14.9% decline in e-commerce sales;
says e-commerce sales accounted for 24% of total sales in the
quarter, down from 28% the prior year
** Posts Q3 net sales of $114.4 mln, a decline of 1.7% from
a year ago, and adjusted loss of 29 cents per diluted share,
down from 45 cents YOY
** Up to Thursday's close, stock has fallen 33% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))