The holidays weren’t particularly kind to Kirkland’s, but the company will keep pushing strategic initiatives in the New Year, including a rebranding effort, as it pursues improvement.
President and CEO Steve “Woody” Woodward said that comparable sales lined up with expectations. In releasing its third-quarter financial results on December 2, 2021, the company offered guidance for a mid-to-high-single-digit comp decrease for Q4.
The company also will update its product mix with a furniture push.
“After closing out the month of December, our comparable sales are in-line with the revised expectations we discussed on our last quarterly earnings report,” said Woodward, Kirkland’s president and CEO, in announcing the comp results. “As we move into 2022, we look forward to making progress with our strategic initiatives, including rebranding to Kirkland’s Home, strengthening our digital capabilities, rolling out new furniture and outdoor products, and prioritizing in-store floor layouts to support our changing product mix. We remain confident in our ability to achieve the long-term financial targets we’ve laid out and, ultimately, become a high-performance specialty home furnishing retailer with quality products at affordable price points. Given this confidence, our board has authorized a new share repurchase plan as we look to further drive shareholder value in 2022.”
