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Why Kirkland's Is Kicking It Higher Today

Rich Duprey, The Motley Fool
·1-min read
Why Kirkland's Is Kicking It Higher Today

Shares of Kirkland's (NASDAQ: KIRK) were soaring 16% higher heading into midday trading on Thursday after the home goods retailer reported second-quarter earnings that handily beat analyst estimates, though top-line results just missed expectations. The specialty retailer said revenue of $114.8 million was down 8% from the year-ago period as comparable-store sales fell 5.2% and e-commerce declined 12.6%. While those figures are hardly indicative of a stock rally, Kirkland's noted its gross margins widened 600 basis points to 34.6%, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to $5.4 million from $600,000 last year.

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