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Promotional pressure dings profit at Kirkland's

Published 02/20/2018, 02:11 PM
© Reuters.  Promotional pressure dings profit at Kirkland's
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  • Kirkland's (KIRK -16.2%) falls sharply after an increase in promotional activity led to a Q4 profit miss.
  • "Store traffic slowed in the latter half of the quarter as we experienced a further shift in holiday shopping patterns, and that resulted in a higher-than-expected level of promotional activity," notes CEo Mike Madden. "The related merchandise margin pressure impacted fourth quarter earnings, despite operating expenses that were in line with expectations," he adds.
  • The company sees full-year EPS of $0.32 to $0.34 vs. $0.59 consensus.
  • Shares of Kirkland's traded as low as $9.85 earlier.
  • Now read: Bed Bath & Beyond (NASDAQ:BBBY) Is Worth At Least - Look No Further Than The Dividend


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