Call Start: 09:00 January 1, 0000 9:35 AM ET

Kirkland's, Inc. (NASDAQ:KIRK)
Q3 2024 Earnings Call Transcript
December 05, 2024, 09:00 AM ET

Company Participants

Caitlin Churchill - External Director of IR
Amy Sullivan - CEO
Mike Madden - EVP and CFO

Conference Call Participants

Jeremy Hamblin - Craig-Hallum Capital Group

Operator

Good morning, everyone, and thank you for participating in today's conference call to discuss Kirkland's financial results for the third quarter ended August 3, 2024. Joining us today are Kirkland's Home CEO, Amy Sullivan; EVP and CFO, Mike Madden; and the company's External Director of Investor Relations, Caitlin Churchill. Following their remarks, we'll open the call for your questions.

Before we go further, I would like to turn the call over to Ms. Churchill as she reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Caitlin, please go ahead.

Caitlin Churchill

Thank you and good morning. Except for historical information discussed during this conference call, the statements made by company management are forward-looking and made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Kirkland's actual results in future periods to differ materially from forecasted results. Those risks and uncertainties are more fully described in Kirkland's filings with the Securities and Exchange Commission. A webcast replay will also be available via the link provided in today's press release as well as on the company's website at kirklands.com.

Now, I will turn the call over to Kirkland's CEO, Amy Sullivan. Amy?

Amy Sullivan

Thank you, Caitlin, and good morning, everyone. The third quarter marked a significant turning point for Kirkland's as we entered into a strategic partnership with Beyond that allowed us to retire expensive debt, strengthen our balance sheet and begin to position our company for growth. This partnership not only provides us with additional capital to continue progressing on our Kirkland's Home initiatives, but enables new growth opportunities as we work together to revitalize the Bed Bath & Beyond brand.

In addition to this important milestone, during the quarter, we anniversaried the strategic shift in our Kirkland's Home brand that we began to implement in September of last year. Going forward, our results will be much more comparable to prior year periods as we continue the brand revitalization.