Kirkland's 4th-quarter sales figure rises

Friday, February 3, 2012, Vol. 36, No. 5

NASHVILLE (AP) - Home decor retailer Kirkland's said Thursday a key revenue figure edged up during the key holiday quarter and the company raised its earnings guidance on the results.

Revenue in stores open at least a year rose 1.4 percent, compared with a decrease of 7.9 percent in the same quarter last year. The measure is considered a key gauge of a retailer's financial health because it excludes stores that open or close during the year.

Kirkland's fourth-quarter net sales rose 6 percent to $148.5 million, from $139.6 million last year. Analysts expected $147.1 million, according to FactSet.

For the year, revenue rose 3.5 percent to $429.7 million, while revenue in stores open at least a year fell 4 percent.

Kirkland's, based in Nashville, Tenn., said it expects to report net income of 72 cents to 75 cents per share for the quarter and 88 cents to 91 cents for the year.

Previously it said it expected net income of 65 c ents to 70 cents for the quarter and 84 cents to 89 cents for the year.

Analysts expect net income of 67 cents per share on for the quarter and 86 cents for the year.

Shares rose $1.43, or 9.4 percent, to $16.68 in afternoon trading. The stock has risen about 40 percent over the past three months.