Kirkland's Q2 Loss Higher Than Estimates - Quick Facts

(RTTNews) - Kirkland's, Inc. (KIRK) Thursday reported wider loss for the second quarter, reflecting rise in operating expenses.

The company posted net loss of $1.1 million or $0.06 per share, compared with $0.6 million or $0.03 per share last year. On average, six analysts polled by Thomson Reuters expected the company to report loss per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Operating expenses rose to $35.3 million from $32.7 million last year.

Quarterly sales were up 6.6 percent to $103.5 million from $97.1 million a year ago, with comparable store sales, including e-commerce sales, rising 3.6 percent compared with a decrease of 0.2 percent in the prior-year quarter. Analysts had consensus revenue estimate of $104.94 million.

Looking ahead, for the third quarter, the company expects net earnings per share in the range of $0.02-$0.04, on net sales of $113 million - $115 million, with a comparable store sales increase in the range of 3 percent - 4.5 percent. Analysts project earnings of $0.08 per share on revenues of $116.10 million.