Home decor retailer Kirkland's Inc. said Wednesday it turned a profit in the second quarter, helped by lower freight expenses and occupancy costs.
The company, which has been closing mall-based stores as leases expire, said it earned $3.4 million, or 17 cents per share, in the 13 weeks ended Aug. 1. In the same period last year, it lost $1.7 million, or 9 cents per share. Revenue was flat, at $87.7 million, with 34 fewer stores on average than a year ago.
Kirland's, which sells framed art, lamps, accent rugs and other products, said its merchandise margins and traffic counts improved during the second quarter. Same-store sales, or sales at stores opened at least a year, rose 6.1 percent. Its off-mall stores sales increased 6.3 percent, while sales in mall stores rose 5.5 percent.
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