Kirkland’s default a matter of when, not if – 2Q24 Credit Report
6th September 2024 02:34 PM
Business Description
Kirkland’s (NYSE: KIRK) is a Brentwood, TN, based specialty retailer of home décor and furnishings. As of 3 August 2024, KIRK operated a total of 324 stores in 35 states of which all are leased, as well as operating an e-commerce website. As of 3 February 2024, KIRK employed approximately 900 full-time and 3,200 part-time employees. KIRK’s business is typically seasonal, with holidays contributing to making Q4 the most significant quarter for the company in terms of sales, net income, and cash flow. For FY23, the manufacturing countries of origin for KIRK’s merchandise receipts were approximately 73% China, 14% India, 8% United States, 3% Vietnam and 2% other countries.