Kirkland’s has reported a mixed performance for Q4 2024, with net sales falling by 10% to $148.9 million while it narrowed its net loss to $23.1 million compared to $27.8 million in the year prior.
Additionally, the home decor retailer saw its net income plunge by 22% to $7.9 million, and its operating income dipped by 14% to $9.2 million. Kirkland’s saw its net sales drop by 6% to $441.4 million in the full fiscal year 2024.
Moving forward, the company plans to acquire an additional $5 million loan from Beyond to undergo store conversions as part of its turnaround strategy.
Amy Sullivan, CEO of Kirkland’s, said: “We have identified the first of many potential store conversions under the Bed Bath & Beyond Home and Overstock banners that we believe will not only drive stronger brand awareness and customer acquisition but also support our ongoing transformation efforts.
“We are intently focused on delivering results, returning to profitability, and driving value for all of our shareholders.”
During an earnings call, the CEO of the retailer revealed that Kirkland’s plans to start out at a Nashville location as the first store to undergo a Bed Bath & Beyond Home conversion.
In February 2025, Kirkland’s made a $25 million deal with Beyond to return the Bed Bath & Beyond products to brick-and-mortar in smaller format stores.
Beyond owns approximately 40% of Kirkland’s outstanding shares and plans to expand its retail footprint moving forward.
Kirkland’s was founded in 1996 and currently operates around 325 stores in the US.
Click here to sign up to Retail Gazette‘s free daily email newsletter
