Kirkland’s Q3 profit falls 48%, but beats expectations

Nashville, Tenn. -- Kirkland’s net profit in its fiscal third quarter as operating expenses and cost of sales rose, and same-store sales declined. But its results still beat Wall Street's expectations. The company earned $1.2 million, compared with $2.3 million a year earlier. Operating expenses rose 8% to $31.3 million, while the company's cost of sales rose 7% to $60.9 million. Sales rose 5% to $97.1 million, from $92.7 million. Same-store sales were down 3.6%.