Kirklands Inc: Management Continues To Deliver Their Promises


Kirklands Inc: Management Continues To Deliver Their Promises


June 28, 2021

Price (as of close on June 25, 2021)






Price Target 



Kirkland’s Inc. (KIRK)

Kirkland’s Inc. (KIRK) The company announced strong Q1:21 results, delivering its most profitable Q1 in over five years. Management guided for margin improvement in the near to medium term, which should boost profitability. We decrease our target price to blocked and maintain our rating at Buy.

kirk content


Q1:21 Highlights

Q1:21 revenues were $123.6 million up 60% from Q1:21. For Q1, comparable sales i ncreased 75.3% YOY while e-commerce comparable sales increased 42% YOY.

➢ E-commerce accounted for 30% of overall Q1:21 sales versus 24% i n the p revious q uarter (Q4:20).

➢ Gross profit for Q1:21 was $40.2 million, up 293% compared to $10.2 million i n Q1:20. Gross margin increased 1,930 bps YOY to 32.6% in Q1:21.

➢ EBITDA was $7.7 million or 6.2% of sales compared to a loss of $17.1 million in the prior year.

➢ Adjusted net income at $1.8 million in Q1:21 or $0.12 per diluted share versus an adjusted n et loss of $17.7 million or $(1.27) per diluted share in Q1:20.

➢ We adjust our estimates based on the quarter end results and management’s commentary. W e decrease our target price to blockedblockedblockedblocked. We maintain our rating at Buy.


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