Kirkland's Home is a specialty retailer of home décor and furnishings in the United States, operating stores and an e-commerce website, focusing on curated, affordable home décor.

# Company Overview Summary

## Business Description
- **Industry & Focus:** Specialty retailer of home décor and furnishings in the United States.
- **Number of Stores & Online Presence:** Operates **317 stores** across **35 states** as of February 1, 2025.
- **Brand & Website:** Operates under the **Kirkland’s Home** brand, with an e-commerce website [www.kirklands.com](http://www.kirklands.com).

## Operations & Strategy
- **Store Types:** Stores include strip or lifestyle centers (274), freestanding locations (22), mall locations (11), and outlet centers (10).
- **Customer Experience:** Offers an engaging shopping environment with curated, affordable home décor, seasonal décor, gifts, and inspirational design ideas.
- **Merchandise Categories:** Holiday décor, furniture, textiles, decorative accessories, art, home fragrance, wall décor, mirrors, floral, housewares, lighting, outdoor, and gifts.

## Financial & Performance Metrics
- **Employees:** Approximately **835 full-time** and **3,175 part-time** employees (total **4,010**).
- **Annual Revenue (Fiscal 2024):** Approximately **$441.4 million** (down 5.8% from $468.7 million in 2023).
- **Net Loss (Fiscal 2024):** **$23.1 million** (or $1.77 per diluted share), an improvement from a net loss of **$27.8 million** in 2023.
- **E-commerce Sales:** Constituted **23.5%** of net sales in fiscal 2024.
- **Customer Base:** Approximately **38** stockholders of record and around **11,913 beneficial owners** as of April 21, 2025.
- **Store Count Trend:** Slight decline from 330 stores in 2024 to 317 in 2025, with plans to close 15–20 underperforming stores and possibly open new Bed Bath & Beyond, Buy Buy Baby, or Overstock stores.

## Key Business Initiatives & Partnerships
- **Strategic Partnership with Beyond:** 
  - Entered in October 2024.
  - Involves a $17 million credit agreement (split into $8.5 million non-convertible loan and $8.5 million convertible loan).
  - Used proceeds to repay previous debt and reduce borrowings.
  - License to operate small format stores under Beyond and its trademarks (Bed Bath & Beyond, Buy Buy Baby, Overstock).
  - Issued approximately **8.93 million shares** of common stock to Beyond as of February 5, 2025.
- **Business Strategy Focus:** Customer engagement, curated product assortments, value pricing, omni-channel experience, operational efficiency, and store profitability.

## Market & Competition
- Competes against **HomeGoods, HomeSense, Walmart, World Market, Crate & Barrel, Williams-Sonoma, Hobby Lobby, At Home, Target, eBay, Amazon, Wayfair**.
- Strives to differentiate through merchandise quality, visual appeal, pricing, and store environment.

## Business Challenges
- Seasonal fluctuations heavily impact sales, with the 4th quarter being most significant.
- Facing macroeconomic challenges including inflation, high interest rates, fluctuating consumer demand, tariffs, and promotional competition.
- In fiscal 2024, operating costs decreased, but gross profit margins saw minor improvement.
- Store openings, closings, relocations, and merchandise inventory are strategically managed to improve profitability and adapt to market conditions.

## Additional Key Data
- ** Cash & Cash Equivalents (2025):** ~$3.8 million.
- **Debt (2025):** 
  - $43 million in revolver (outstanding as of Feb 1, 2025).
  - $17 million to Beyond.
  - Total debt approximately **$59.2 million**.
- **Operational Focus:** Improving online and in-store margins, reducing underperforming stores, expanding private label distribution, and enhancing omni-channel capabilities.
- **Financial Trends:** Despite losses, the company is actively managing liquidity and strategic partnerships to support ongoing operations and turnaround efforts.

Kirkland's, Inc. is a specialty retailer focused on home décor and furnishings within the United States, operating 330 stores and a strong e-commerce platform.

# Kirkland's, Inc. Overview

Kirkland's, Inc. is a specialty retailer focused on home décor and furnishings within the United States. The company operates a total of **330 stores** across **35 states** as of February 3, 2024. Additionally, Kirkland's has a robust **e-commerce platform** located at [www.kirklands.com](http://www.kirklands.com).

## Key Business Details

- **Founded:** 1966
- **Incorporation:** 1981
- **Headquarters:** Brentwood, Tennessee

## Mission and Strategy

Kirkland's aims to be the destination for seasonally relevant home décor, furnishings, and gifts. The company's strategy emphasizes:

1. **Customer Engagement:** Keeping the voice of the customer central to the brand, re-engaging existing customers, and attracting new customers.
2. **Merchandising:** Offering a unique omni-channel product strategy with curated, on-trend home décor at competitive prices.
3. **Omni-Channel Experience:** Delivering shopping options that facilitate customer purchasing preferences, whether online or in-store.
4. **Operational Efficiency:** Focusing on cost containment and supply chain improvements to return to profitable growth.

## Financial Overview

- **Revenue:** For the fiscal year ending February 3, 2024, Kirkland's reported **net sales** of **$468.7 million**, a decrease from **$498.8 million** in fiscal 2022.
- **Net Loss:** The company experienced a **net loss** of **$27.8 million**, which translates to **$2.16 per diluted share**. This is an improvement compared to a net loss of **$44.7 million** in fiscal 2022.
- **Gross Profit:** For fiscal 2023, gross profit increased to **$127.0 million**, accounting for **27.1%** of net sales, up from **24.0%** in fiscal 2022.
  
## Employee Metrics

- **Total Employees:** Approximately **4,100** employees, consisting of **900 full-time** and **3,200 part-time** personnel.
- **Seasonal Employment:** The workforce typically increases during the fourth quarter in anticipation of holiday sales, indicative of the company's seasonal business model.

## Customer Base

Kirkland's targets a wide demographic of consumers interested in home decoration and furnishings, although specific numbers reflecting regular customer counts are not disclosed in their reports.

## Product Range

Kirkland's offers a diverse assortment of products across various categories, including:

- Holiday décor
- Furniture
- Textiles
- Decorative accessories
- Home fragrance
- Ornamental wall décor
- Mirrors
- Housewares
- Lighting
- Floral arrangements
- Outdoor items
- Gifts

In summary, Kirkland's, Inc. specializes in providing stylish, affordable home décor products through an effective omni-channel strategy that includes a physical retail presence and e-commerce capabilities. The company's financial performance indicates a commitment to reducing losses while focusing on enhancing operational efficiencies and customer engagement.

KIRKLAND'S, INC

10-K / May 2, 2025

10-K / March 29, 2024

10-K / May 2, 2025

Company Overview Summary

Business Description

Operations & Strategy

Financial & Performance Metrics

Key Business Initiatives & Partnerships

Market & Competition

Business Challenges

Additional Key Data