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Kirkland's cuts 2Q loss


JACKSON, Tenn. Kirkland's reported that net sales for the second quarter ended Aug. 2, were $87.7 million compared with $87.4 million for the same period ended August 4, 2007. Comparable-store sales for the second quarter of fiscal 2008 increased 2.8% compared with a 10.5% comparable-stores sales decrease in the second quarter of fiscal 2007.

The company reported a net loss of $1.7 million, or 9 cents per diluted share, for the second quarter, compared with a net loss of $9.2 million, or 47 cents per diluted share, for the same period last year.

Robert Alderson, Kirkland's president and ceo, said, "We are pleased with the positive momentum in comparable store sales, the significant year-over-year improvement in margin, and the success of our Big Sale in July. We experienced the highest merchandise margin for the second quarter in over five years. Although traffic remains flat from a year ago, the customer is responding to our merchandise, which is reflected in more items per ticket, higher conversions and better sell-through.

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