Kirkland’s profit doubles in Q4

Nashville, Tenn. Home-decor retailer Kirkland’s said Friday that its fourth-quarter profit rose by nearly half as sales improved.

Profit for the quarter ended Jan. 30 increased 47% to $22.1 million, from $15 million in the same period a year before.

Revenue rose 7% to $142.8 million, from $133.6 million.

Same-store sales grew 10.2% in the period.

For the year, profit more than quadrupled to $34.6 million from $9.3 million. Revenue rose 4% to $406.2 million from $391.3 million.

In the current fiscal year, the company expects sales to rise 5% to 8%, helped by positive sales same-store sales. The forecast implies revenue of $426.5 million to $438.7 million.

Kirkland's closed a total of 20 stores during the year but plans to start opening stores again in 2010. It plans to open 30 to 40 stores in the year and close 15 to 20.

"Strong results have continued year-to-date in the first quarter of fiscal 2010," said CEO Robert Alderson.