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Kirkland’s not immune to severe weather

Kirkland’s reported improved year-over-year net sales for the full fiscal year 2014 but a decrease in the fourth quarter, thanks to severe weather-related declines in traffic throughout December, which affected important weekend sales days.

Net sales increased 2.7% to $460.6 million during fiscal 2014, compared with $448.4 million the prior fiscal year, while same-store sales rose 0.5%.

During the fourth quarter, net sales decreased 4.2% to $156.1 million, compared with $162.9 million in the previous fourth quarter. Same-store sales were flat.

“Not surprisingly, we have not been immune to the challenging weather and compressed holiday season that other retailers have noted to date in the quarter,” said Robert Alderson, president and CEO of Kirkland’s. “Although we began with a strong November and a record Black Friday weekend, we experienced frequent and severe weather-related declines in traffic throughout December affecting important weekend sales days that could not be recovered. Sales trends improved during January, but were again negatively impacted by the latest group of storms affecting the South and Southeast. Winter will not last forever and as we enter fiscal 2014, we remain confident about our sales, multichannel, branding and store growth plans.”

 

 

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