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Kirkland profit plunges 38%
Nashville, Tenn. -- Kirkland's first-quarter profit dropped 38% amid promotions and price cuts. The company also issued disappointing predictions for the current quarter and full year.
Kirkland’s said it earned $2 million for the quarter ended April 28, down from $3.2 million last year.
Sales rose 3.6% to $97.8 million from $94.4 million. Same-store sales edged down 1.2%.
The home décor chain said it increased marketing to counter a drop in sales. -
Sears Holdings swings to profit in Q1, to spin off minority stake in Sears Canada
Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year. The improvement was due largely to a $233-million gain from selling off some of its stores.