Kirkland's

This article is about the U.S. retailer. For the private label grocery brand, see Costco. For other uses, see Kirkland (disambiguation).
Kirkland's, Inc.
Kirkland's Home
Company typePublic
Nasdaq: KIRK
S&P 600 Component
IndustryRetail
Founded1966; 58 years ago (1966), in Jackson, Tennessee, U.S.
Founders
  • Carl Kirkland
  • Robert Kirkland
HeadquartersBrentwood, Tennessee, U.S.
Number of locations
329 (2023)
Key people
Amy Sullivan (CEO)
RevenueIncrease US$ 468.7 million (FY2023)
Decrease US[$ 24.4] million (FY2023)
Decrease US$ (8.4) million (FY2023)
Total assetsIncrease US$ 250.6 million (FY2023)
Total equityIncrease US$ 140.76 million (FY2018)
Number of employees
6,000 (2023)
Websitewww.kirklands.com
Kirkland's store in Valdosta, Georgia

Kirkland's, Inc. is an American retail chain that sells home decor, furniture, textiles, accessories and gifts. It operates 329 stores in 35 states[1][needs update] as well as an e-commerce enabled website. It is based in Brentwood, Tennessee.[2]

History

Kirkland's was founded by Carl Kirkland and Robert Kirkland in 1966 in Jackson, Tennessee, when they began selling home accessories at low prices. As of June 2024[needs update], the chain has grown to 329 stores in 35 states.[3][4][5][6]

In February 2024, Kirkland's announced it had named Amy Sullivan as the new CEO, replacing CEO, Steve Woodward. Co-founder Robert Kirkland was also the main funder for nationally acclaimed museum and fun park, Discovery Park of America, located in Union City, Tennessee.[6]

On June 26, 2024 at the annual meeting of Kirkland's shareholders, two long-time members of Kirkland's Board of Directors, R. Wilson Orr, III and Steven J. Collins, resigned after failing to receive majority support from voting shareholders. Amy Sullivan was elected and Ann Joyce was re-elected to the Board of Directors. Ann Joyce was named Chairman of The Board of Directors. The Board of Directors voted to reduce the size of The Board of Directors from 8 members down to 6 members.

In October 2023, CreditRiskMonitor reported that Kirkland's was nearing a potential Chapter 11 bankruptcy filing.[7]

Philanthropy

Each year, Kirkland's hosts events and special promotions in benefit of Camp Charley, a camp for critically ill children in Scottsville, Kentucky.[8] Kirkland's past philanthropic projects also include participation in ABC's Extreme Makeover: Home Edition and the American Cancer Society Relay for Life, as well as promotion of a holiday-themed music CD in benefit of Habitat for Humanity.[9]

Restatement

On March 17, 2005, the company said quarterly profit fell, and it would restate prior period financial statements to reflect corrections to its lease-related accounting.[10]

References

  1. ^ 2021 Kirkland's Annual Report
  2. ^ Kirkland's Inc. company profile, The New York Times, Retrieved 8 April 2018.
  3. ^ "History". Kirklands.com. Retrieved 29 November 2018.
  4. ^ "About Us". Kirklands.com. Retrieved 2017-09-01.
  5. ^ Alexei Smirnov (April 23, 2002). "Jackson, Tenn.-based retailer Kirkland's plans $144 million IPO". Nashville Post. Retrieved 2018-02-28.
  6. ^ a b Eric Snyder (September 25, 2018). "Nashville public company names new CEO". Nashville Business Journal. Retrieved 2018-09-25.
  7. ^ "11 retailers at risk of bankruptcy in 2023". Retail Dive. October 2, 2023. Retrieved October 3, 2023.
  8. ^ "News". Charleyfoundation.org. Retrieved 24 April 2018.
  9. ^ "Community - Kirklands". Kirklands.com. Retrieved 24 April 2018.
  10. ^ "Kirkland's profit falls, will restate some earns". Money.cnn.com. Retrieved 24 April 2018.