Kirkland's 10-Q: Credit Facility & Stock Update
Ticker: TBHC · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 1056285
| Field | Detail |
|---|---|
| Company | Kirkland'S, INC (TBHC) |
| Form Type | 10-Q |
| Filed Date | Jun 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, credit-facility, common-stock
TL;DR
Kirkland's 10-Q shows credit facility details and stock info as of May 4, 2024.
AI Summary
Kirkland's, Inc. filed a 10-Q for the period ending May 4, 2024. The company reported on its financial condition, including details about its revolving credit facility and common stock. Key dates mentioned include January 25, 2024, and February 4, 2024, related to credit agreements.
Why It Matters
This filing provides insight into Kirkland's financial health and its ability to manage its debt and equity, which can impact investor confidence and future operational decisions.
Risk Assessment
Risk Level: medium — The filing details financial instruments and credit agreements, which carry inherent financial risks.
Key Numbers
- N/A — Revenue (Specific revenue figures not detailed in the provided snippet.)
- N/A — Net Income (Specific net income figures not detailed in the provided snippet.)
Key Players & Entities
- Kirkland's, Inc. (company) — Filer of the 10-Q
- May 4, 2024 (date) — End of the reporting period
- January 25, 2024 (date) — Date related to credit agreements
- February 4, 2024 (date) — Date related to credit agreements
FAQ
What was the status of Kirkland's revolving credit facility as of May 4, 2024?
The filing indicates details regarding the revolving credit facility, with specific minimum and maximum member information noted for dates around January 25, 2024, and February 4, 2024.
What is Kirkland's Inc.'s fiscal year end?
Kirkland's Inc.'s fiscal year ends on February 3rd (0203).
What type of stock does Kirkland's, Inc. have?
Kirkland's, Inc. has common stock.
When was the reporting period for this 10-Q filing?
The conformed period of report was May 4, 2024.
What is Kirkland's Inc.'s SEC file number?
Kirkland's Inc.'s SEC file number is 000-49885.
Filing Stats: 4,535 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-06-06 16:02:21
Filing Documents
- kirk-20240504.htm (10-Q) — 889KB
- kirk-ex31_1.htm (EX-31.1) — 13KB
- kirk-ex31_2.htm (EX-31.2) — 13KB
- kirk-ex32_1.htm (EX-32.1) — 7KB
- kirk-ex32_2.htm (EX-32.2) — 7KB
- img245204159_0.jpg (GRAPHIC) — 230KB
- 0000950170-24-069854.txt ( ) — 3975KB
- kirk-20240504.xsd (EX-101.SCH) — 551KB
- kirk-20240504_htm.xml (XML) — 339KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) as of May 4, 2024, February 3, 2024, and April 29, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the 13-week periods ended May 4, 2024 and April 29, 2023 4 Condensed Consolidated Statements of Shareholders' (Deficit) Equity (Unaudited) for the 13-week periods ended May 4, 2024 and April 29, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) for the 13-week periods ended May 4, 2024 and April 29, 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.
Controls and Procedures
Controls and Procedures 19 PART II OTHER INFORMATION 20 Item 1.
Legal Proceedings
Legal Proceedings 20 Item 1A.
Risk Factors
Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 5. Other Information 20 Item 6. Exhibits 20
SIGNATURES
SIGNATURES 21 2 Table of Contents
- FINANC IAL INFORMATION
PART I - FINANC IAL INFORMATION
FINANC IAL STATEMENTS
ITEM 1. FINANC IAL STATEMENTS KIRKLAND'S, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS (UNAUDITED) (in thousands, except share data) May 4, February 3, April 29, 2024 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 3,836 $ 3,805 $ 7,072 Inventories, net 75,789 74,090 83,332 Prepaid expenses and other current assets 6,540 7,614 4,905 Total current assets 86,165 85,509 95,309 Property and equipment: Equipment 19,119 19,144 19,630 Furniture and fixtures 63,516 63,823 66,115 Leasehold improvements 100,447 100,393 102,836 Computer software and hardware 78,561 78,580 82,130 Projects in progress 371 647 1,027 Property and equipment, gross 262,014 262,587 271,738 Accumulated depreciation ( 234,277 ) ( 232,882 ) ( 235,592 ) Property and equipment, net 27,737 29,705 36,146 Operating lease right-of-use assets 121,410 126,725 131,289 Other assets 7,271 8,634 7,137 Total assets $ 242,583 $ 250,573 $ 269,881 LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY Current liabilities: Accounts payable $ 39,963 $ 46,010 $ 38,092 Accrued expenses 23,020 23,163 25,499 Operating lease liabilities 38,590 40,018 41,173 Total current liabilities 101,573 109,191 104,764 Operating lease liabilities 94,529 99,772 110,165 Long-term debt, net 47,541 34,000 33,000 Other liabilities 4,405 4,486 3,872 Total liabilities 248,048 247,449 251,801 Shareholders' (deficit) equity: Preferred stock, no par value, 10,000,000 shares authorized; no shares issued or outstanding at May 4, 2024, February 3, 2024, and April 29, 2023, respectively — — — Common stock, no par value; 100,000,000 shares authorized; 13,038,978 ; 12,926,022 ; and 12,812,898 , shares issued and outstanding at May 4, 2024, February 3, 2024, and April 29, 2023, respectively 176,793 176,5