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Kirkland's (Nasdaq: KIRK) $7.00. Today announced financial results for the 13-week period ended May 2, 2009. Net sales for the 13-week period ended May 2, 2009, were $83.3 million compared with $84.1 million for the 13-week period ended May 3, 2008.
The Company reported net income of $3.5 million, or $0.17 per diluted share, for the 13-week period ended May 2, 2009, compared with a net loss of $2.6 million, or $(0.13) per diluted share, in the 13-week period ended May 3, 2008. Income tax expense for the 13-week period ended May 2, 2009, includes a rate benefit of approximately $1.0 million, or $0.05 per diluted share, related to the reversal of a portion of the valuation allowance on the Company's deferred tax assets established in prior periods. The reported net loss for the first quarter of fiscal 2008 included no tax benefit for the period.
What They Do: Kirkland's is a specialty retailer of home decor in the United States.
MicroStrategy Incorporated (Nasdaq: MSTR) $46.86. Today announced that Lowe's Companies, Inc. (NYSE: LOW) plans to expand its deployment of MicroStrategy to support new business intelligence applications for its store management. Lowe's is the second-largest home improvement retailer in the world, serving approximately 14 million customers per week.
Lowe's currently has a number of MicroStrategy-based BI applications that support thousands of employees across a variety of business functions. These applications are used to improve decision making, enhance productivity, and provide better service to customers. Lowe's plans to expand its BI environment by providing store management teams with access to key reports and business metrics.
What They Do: MicroStrategy is a global leader in business intelligence (BI) technology. MicroStrategy provides integrated reporting, analysis, and monitoring software that helps leading organizations worldwide make better business decisions every day.
Bon-Ton Stores, Inc. (NASDAQ: BONT) $4.19. Today announced results for the first quarter of fiscal 2009 ended May 2, 2009.
Total sales for the first quarter of fiscal 2009 were $644.5 million compared with $700.2 million in the first quarter of fiscal 2008. EBITDA, defined as earnings before interest, income taxes and depreciation and amortization, including amortization of lease-related interests, increased $1.0 million in the first quarter of fiscal 2009 to $5.7 million compared with $4.7 million in the first quarter of fiscal 2008. EBITDA is not a measure recognized under generally accepted accounting principles (see Note 1).
Net loss totaled $45.4 million, or $2.67 per diluted share, for the first quarter of fiscal 2009 compared with a net loss of $34.1 million, or $2.03 per diluted share, for the first quarter of fiscal 2008.
What They Do: The Bon-Ton Stores, Inc., through its subsidiaries, operates department stores in the mid-size and metropolitan markets of the United States.
Stein Mart, Inc. (Nasdaq: SMRT) $4.42. Today announced financial results for its first quarter ended May 2, 2009. For the first quarter of 2009, the Company earned $16.1 million or $0.38 per diluted share as compared to $7.0 million or $0.17 per diluted share in 2008. As previously reported, net sales for the first quarter decreased 9.2 percent to $319.6 million from $352.1 million the previous year and comparable store sales decreased 8.0 percent from the first quarter of 2008.
Gross profit decreased to $96.8 million from $97.7 million in 2008. As a percent of net sales, gross profit increased to 30.3 percent from 27.8 percent in the same period last year. The increase in the gross profit rate resulted from increased markup and decreased markdowns, slightly offset by higher occupancy costs.
What They Do: Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store.
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