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VOL. 128 | NO. 229 | Friday, November 22, 2013

Kirkland Shares Soar on Strong Third Quarter, Forecast

AP

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Kirkland's Inc. shares soared Thursday after the home decor retailer reported a better-than-expected fiscal third quarter and raised its full-year forecast.

Kirkland's President and CEO Robert Alderson said that fall and holiday seasonal merchandise sold well during the quarter. The company also benefited from increased traffic in stores, strong product margins and more spent by shoppers for each purchase.

The retailer operates 324 stores in 35 states.

The Nashville, Tenn., company said that it earned $1 million, or 6 cents per share, for the quarter that ended Nov. 2. That is compared with a loss of $416,000, or 2 cents per share, last year. Revenue increased 10 percent to $106.1 million.

Analysts polled by FactSet were anticipating earnings of 2 cents per share on revenue of $104 million.

Kirkland expects to earn 90 cents to 95 cents per share for the year, up from its prior forecast of 80 cents to 90 cents per share. It anticipates revenue between $464 million to $467 million. Analysts expected earnings of 91 cents per share on revenue of $466.6 million.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 242 14,959
MORTGAGES 111 255 19,585
FORECLOSURE NOTICES 21 43 3,838
BUILDING PERMITS 153 512 35,842
BANKRUPTCIES 61 182 14,216
BUSINESS LICENSES 18 104 5,095
UTILITY CONNECTIONS 76 246 21,679
MARRIAGE LICENSES 16 75 4,632

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