Kirkland's reports lower Q4 sales, CEO change; shares fall
04/04/2023 14:30
** Shares of home furnishing retailer Kirkland's Inc KIRK.O up 4.2% at $2.97 in premarket
trading
** Co announced Steve "Woody" Woodward, co's president and CEO will be retiring effective
May 31
** Ann Joyce, co's board member, named as interim CEO
** Co also reported Q4 adj net loss of 9 cents per share vs adj net income of 84 cents per
share in Q4 2021
** Posts Q4 net sales of $162.5 mln vs $176.2 mln yr-ago, hurt by decline in traffic
** "We expect to begin seeing margin improvements starting in the fiscal first quarter as
the supply chain has begun to normalize," says CEO Woodward
** Shares down ~14% YTD
(Reporting by Yamini Kalia)
((Yamini.Kalia@thomsonreuters.com))