Kirkland's, Inc. Files 10-Q for Period Ending August 3, 2024
Ticker: TBHC · Form: 10-Q · Filed: Sep 5, 2024 · CIK: 1056285
| Field | Detail |
|---|---|
| Company | Kirkland'S, INC (TBHC) |
| Form Type | 10-Q |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, retail, financials, credit-facility
TL;DR
Kirkland's 10-Q is in! Check Q2 results ending Aug 3, 2024. Financials and credit details inside.
AI Summary
Kirkland's, Inc. filed its 10-Q for the period ending August 3, 2024, reporting on its financial performance. The company's fiscal year ends on February 3rd. Key financial data points and credit facility information are detailed within the filing.
Why It Matters
This filing provides investors and stakeholders with a quarterly update on Kirkland's financial health and operational performance, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a retail company, Kirkland's is subject to market fluctuations, consumer spending trends, and competitive pressures, which can impact its financial performance.
Key Numbers
- 20240803 — End of Fiscal Quarter (The report covers financial data up to this date.)
- 0203 — Fiscal Year End (Indicates the end of Kirkland's fiscal year.)
- 2024-02-04 — Start of Fiscal Period (The reporting period begins on this date.)
Key Players & Entities
- Kirkland's, Inc. (company) — Filer of the 10-Q report
- 20240803 (date) — End of the reporting period
- 0000950170-24-103969 (other) — Accession number for the filing
- 5310 MARYLAND WAY, BRENTWOOD, TN 37027 (address) — Company's business and mailing address
- 615-872-4800 (phone_number) — Company's business phone number
FAQ
What was Kirkland's financial performance for the quarter ending August 3, 2024?
The 10-Q filing for the period ending August 3, 2024, provides detailed financial performance information for Kirkland's, Inc.
When does Kirkland's fiscal year typically end?
Kirkland's fiscal year ends on February 3rd (0203).
What is the accession number for this 10-Q filing?
The accession number for this filing is 0000950170-24-103969.
Where is Kirkland's, Inc. headquartered?
Kirkland's, Inc. is located at 5310 Maryland Way, Brentwood, TN 37027.
What type of credit facility is mentioned in relation to Kirkland's?
The filing mentions a revolving credit facility, with details on minimum and maximum amounts and maturity dates.
Filing Stats: 4,540 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-09-05 16:04:38
Filing Documents
- kirk-20240803.htm (10-Q) — 1174KB
- kirk-ex31_1.htm (EX-31.1) — 14KB
- kirk-ex31_2.htm (EX-31.2) — 14KB
- kirk-ex32_1.htm (EX-32.1) — 7KB
- kirk-ex32_2.htm (EX-32.2) — 7KB
- img245207041_0.jpg (GRAPHIC) — 230KB
- 0000950170-24-103969.txt ( ) — 4483KB
- kirk-20240803.xsd (EX-101.SCH) — 552KB
- kirk-20240803_htm.xml (XML) — 431KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) as of August 3, 2024, February 3, 2024, and July 29, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the 13-week and 26-week periods ended August 3, 2024 and July 29, 2023 4 Condensed Consolidated Statements of Shareholders' (Deficit) Equity (Unaudited) for the 13-week and 26-week periods ended August 3, 2024 and July 29, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) for the 26-week periods ended August 3, 2024 and July 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 14 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.
Controls and Procedures
Controls and Procedures 21 PART II OTHER INFORMATION 22 Item 1.
Legal Proceedings
Legal Proceedings 22 Item 1A.
Risk Factors
Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 5. Other Information 22 Item 6. Exhibits 22
SIGNATURES
SIGNATURES 23 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) August 3, February 3, July 29, 2024 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 4,461 $ 3,805 $ 4,890 Inventories, net 92,760 74,090 98,949 Prepaid expenses and other current assets 8,216 7,614 5,697 Total current assets 105,437 85,509 109,536 Property and equipment: Equipment 19,067 19,144 19,593 Furniture and fixtures 62,847 63,823 65,632 Leasehold improvements 99,616 100,393 102,068 Computer software and hardware 78,610 78,580 82,517 Projects in progress 371 647 1,276 Property and equipment, gross 260,511 262,587 271,086 Accumulated depreciation ( 235,057 ) ( 232,882 ) ( 237,208 ) Property and equipment, net 25,454 29,705 33,878 Operating lease right-of-use assets 128,046 126,725 133,352 Other assets 7,282 8,634 6,818 Total assets $ 266,219 $ 250,573 $ 283,584 LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY Current liabilities: Accounts payable $ 59,967 $ 46,010 $ 56,483 Accrued expenses 20,956 23,163 26,432 Operating lease liabilities 38,602 40,018 40,249 Total current liabilities 119,525 109,191 123,164 Operating lease liabilities 100,565 99,772 111,746 Long-term debt, net 61,396 34,000 46,000 Other liabilities 4,438 4,486 3,834 Total liabilities 285,924 247,449 284,744 Shareholders' (deficit) equity: Preferred stock, no par value, 10,000,000 shares authorized; no shares issued or outstanding at August 3, 2024, February 3, 2024, and July 29, 2023, respectively — — — Common stock, no par value; 100,000,000 shares authorized; 13,111,638 ; 12,926,022 ; and 12,917,373 , shares issued and outstanding at August 3, 2024, February 3, 2024, and July 29, 2023, respectively 177,057