Kirkland’s Inc reported losses in the first quarter, as it saw its sales decline as inflation and other worries affected consumer demand for home furniture.
The decoration and furniture retailer posted a loss of $ 7.9 million in the first quarter, compared with a profit of $ 1.7 million a year ago.
Losses stood at 63 cents per share, compared with gains of 11 cents per share.
Adjusted losses stood at 62 cents per share, while analysts expected adjusted losses of 26 cents per share.
Comparable sales fell 15.8%, while online sales fell 23.6%.
Sales fell to $ 103.3 million from $ 123.6 million a year ago. Analysts expected sales of $ 109 million.
Source: Capital
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