KIRK - Earnings call transcript Q2 2019

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to the Kirkland's Second Quarter 2019 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Jeff Black, of SCR Partners. ahead. go Please

Jeff Black

morning to Good fiscal to Kirkland's the Thank results and for call review of the conference you. welcome second XXXX. quarter

Executive and call Woody Officer. Nicole the morning Officer; Financial Chief Mike On Strain, Chief Cairnes, Operating Chief this President Officer; and Woodward, are

on made morning the as results in that's covered discussed by by call the of a media. the company basis Harbor Except were accessibility Securities during of notice release forward-looking The this made listen-only information provisions Private of statements and announced the historical are financial for the as this well call, a the earlier XXXX. Act this been management pursuant Safe Litigation to Reform of

cause from results differ fully the Forward-looking the periods on and to results. Kirkland's forecasted described future with Securities statements uncertainties Commission, XX, March known which Exchange actual in unknown involve in are materially and XXXX. risks risks Those Form on including and and filings XX-K more filed Report Kirkland's may Annual uncertainties

over turn now to I'll Woody. it

Woody Woodward

Jeff, everyone XXXX call. beyond. joining appreciate you plans the on to and and good to review Thanks, We us for second the quarter morning and our

in traffic. Trends tariffs, to transform business. remain quarter, business initiatives outlined challenging by existing focused we've on restore we're second to and the in near-term primarily concerns, We're the driven steps additional tracked taking the address including accelerating the

our the associates. call start we brand, a of have and company stressing us, carefully We to plan improve plan, I our this growth out profitable a long-term the will return firmly the by of team much work for to executing thought ahead shareholders that and want believe is vibrancy against but

these to objectives, capital everything We goals. and we're the of accelerate to the have doing believe the accomplish execution that our talent we can and we

in the like categories broaden in new notable this both we've customers. obviously increases important here sales added QX, to quarter. E-commerce reaccelerated the that on also line trends progress channel. seeing exciting in Kirkland's conversion top new in see the we've made performance in with with we'd We're better and from traffic reach several and While short-term, initiatives solid to

Sales encouraging, we've value dining plan, the ample In on as made placed assortments and housewares emphasis are room and well considering and assortments, products great quality. quality. Kirkland's The rugs must inflations new launching great in textiles our have and to our have and stand categories, of as our price value for new better offering curated brand grow. tabletop

example, and point, at For the $XXX, retailers, and that home price a same price. décor at rugs see you in is our a in Turkish XxX premium compelling come but there lower value quality for designs significantly available might

luxury we that that specialty want to a with at So value. the market point reinforces remain quality price Kirkland's great below

high our in categories our confirms plan strategy above date are chain being the is curated a Margins to Bedding, given important XXXX, thus results. to September. of in that our full far introduced month, The proportion products price sales. drive these this for better to in can launch third showcase performance

putting across traffic. while drag merchandising are yet not our patterns shift promising, new infrastructure. the improve to chain the work our continuing the shopping categories, customers' pressure The we As is the from offsetting and brick-and-mortar related in stores on

As we've additions product discussed, with gain confident we're and will supporting the digital we're the direct mail, launches marketing, momentum.

line needed. we're trends, adjustments top Given making the current where

XXXX, launching that of into launches to the product will as our new art in category. assortments, such opportunity we're addition excitement first-half existing In also

songs. canvas on new site Dolly's launched on art have yesterday seen, Check is may news for most Web of art collection our collection a launch. out Parton, As which from we many iconic this you an the From Dolly nine exciting called of exclusive HeART, of Kirkland's interpretations

trends, line top needed. adjustments making where current Given we're also other

XXXX, of will we're levers benefit warehouse chain and the and on second-half heavy from efficient the inventory earlier believe more do Dallas, second Christmas make We're million by operating overall. to look XXXX, plans [ph] and ensure supports in the we a the $XX which can moving and a optimal to cost promote promotional that for the on We're we're that levers reduce business not we last store periods. quarter, year, the post continuing addressing moving we forward to of analyzing impact supply that an to hard additional drop focus with in include program seasonal effective. supply in and believe the customer, working more right-size to applied from as learnings chain costs fourth stronger the margin. example, For We've set, we're

important we're help and are our can financial initiatives that stabilize long-term performance. transformation, optimistic they that These our support

We on will drive progress to our and appeal continue broaden update brand you growth. profitable to

merchandizing, the to moment plan, Before pillars management. omnichannel disciplined capital improvement, a infrastructure take to to to mail I I want hand include of the call over growth, Mike, the and which speak

Let start me merchandizing. with

categories to entering the of offering back-half compliment focus categories reinforce value. Kirkland's is shoppers. As discussed, strategy includes reinforcing items relevance We're value. that with I simplicity, to to are items home a the more seasonal and our assortments' in key This merchandise, and key improve on sharper and introductions product relevant shoppers overall long our purposeful utility, particularly while depth Kirkland's in new heritage adjacent

In received launch addition tabletop well has customers. been extremely by current rugs, our to

and of the reduce increase the add ancillary we for time sale can and pleased speed, share The significantly e-commerce streamline Turning to elevate design accounted profitability. omnichannel, sales services believe over time. and teams its pickup a are to we traffic we're in of working channel, sales elements potential the to BOPIS Kirklands.com. the improve And encouraged reacceleration checkout, about and growing in e-commerce. we're with

store address more costs focused moment. strategy. in to relates a optimizing infrastructure will Mike it support on supply are and of realigning omnichannel to As number infrastructure, levers support important here, a chain which operating a Kirkland's and efficient is There its

preserving our focused lastly, execute plan. And our we're on to capital

We're to challenges strong balance and intend Home shopping components of critical first fully business aware discipline our we a décor continuing. continue that sector. by facing we see our dramatic in We in in And patterns. taste to as exercise and shifts experienced consumer the priority. sheet, allocation has our capital investing a of have

appeal have the struck to long-term right Kirkland's our approach that return that We and merchandizing We customer base to and believe expects large profitability. have treasures remain of yet place us untapped and we not there loyal a value in And consumers we Mike? confident all is a on with priced. familiar to have balanced that base to to fully customers, our a trend of competitively with plan Kirkland's. are

Mike Cairnes

topics. Woody. you, two cover Thank I'll

of business. update we First, I'll our holiday the Then an transform are the walk of through to how supporting year. season plans the infrastructure future this

go call. we to the of we the into on the As in continue excellent make second-half outlined year, initiatives last the progress we

we Dallas, on addition XPL of store approximately south of smoother is of center, a to creating delivering flow stores, schedule. and over servicing starters, stood annual up an of distribution chain, XX% distribution This For million transportation cost $X on product center saves in a our basis. successfully to XX that

simpler sales, clearer, happy and inventory, starting lines sales with the are dial dollars. top were and intensity, deeper promotional move were margin it to although our promotions, drive they Meanwhile, We than and our inventory. on to we Labor drive normal Day levers in to proves

e-commerce streamlined back our increased the site is improved trajectory the with speed, checkout, sales along operation. design addition, of accelerating of back-end In on fulfillment and improvements,

in their to store I'm products, up and accommodate and to our completely by the while as conversion floor continuing new very orders the proud entire about resets excited increase customer evidenced the to service rapid in BOPIS rate. the execution. increase It presentations by merchandise level

balance into light of it where retail work XXXX. now of this business, dynamics, to be will are our infrastructure going the to of buys year I'll this reposition quickly-evolving pivot and and In how better the home with correlates the that so consumer we accelerating for decor. on the plans transformative the disruptive

the have constructed the and well runway, expertise, plan. the thought a out We capital, that team the has

business address challenges of in architecture two This fundamental will the the today.

store greater de-leverage. needs be Therefore, from our it's First, traffic brick mortar, and shifts to to resulting as online structure in optimized.

time omnichannel the that e-commerce the fulfillment our has great and supply of and through network future. consumer. an walk plan opportunity competitive to profitability Second, builds model and chain I'll

Starting this negotiations. closures process. of third-party fully renegotiate number aggressively to store premature the leases. we an our is be and structure, store rent expect We release a output the of to It savings have the store contracted from of with number to store closures target target

extrapolated We network. at take footprint, the profitability a current the traffic on on store we've of stores intend more to to trends, and construct each the only negative all EBITDA a we vigorous current based are action not profitable taking look

greater warehouse been store on development product, will efficiency, will a One. One to inventory XXXX, early tie This launch In shared HighJump mile will it working us replace management HighJump and current system. we We've capability. of give enable last with our and e-commerce into the will it

We UAT in now, are and confidence us in execution. which the the timing gives phase

our structure allow ship level. of supply capability will time, mid-XXXX. cost our position and up us a channel will of launch at our operation, e-commerce we we by system, the ships At the execute management new from will Once mitigate we same higher be to warehouse to standing it in chain be to store store

channel direct-to-consumer an standpoint. earnings aspect significantly enhanced and therefore from current be e-commerce Our service will

structure. one Buy channel of of of like the what pick this online business, up QX an will XX% summarize to in encouraged the we're XXXX. So, source the e-commerce more by in cost-effective continue let me total into grow. looks streamline represented BOPIS omnichannel In going and store and trajectory XXXX, model

more be and will store of to the more Ship a in efficient weapon future.

when our merchandised that sets We've a planning extended the future the item, ship As table. presentation. We're table don't store on the selling disrupt to set, capability. so leverage to an this a more merchandise we as tabletop example, was in it we farmhouse been new introduced

muscle. shorter will new the store It be will cut from it significantly lead our freight customer to a times and Ships costs. means

to our strategy. us In allows addition, it store next is leg labor. the our omnichannel leverage of This

a enables that the out position to more a against fulfillment options pure portfolio carves In for market the inconvenience ultimate the e-commerce that enables model a profit compete and of players. summary, you'll offer consumer

to the on initiative for our receiving a import penetration direct XXXX. is and from we're infrastructure began target factory, well. work, direct very addition product In going in XX% We

tariff savings importing measure Direct serve cost will the a offset to impact. as

merchandising expand Currently, India. the Southeast options. up $XX of and mitigate in opens the process more layer the million got product our on of looking Then factory other it benefits China. and We're we've China in to team Asia of activations reductions. to the to addition, cost for parts you exposure In to

future continue cost coincide will future structure. our to reductions to We with explore

is picture, disappointing. Big performance current

about in the foundational The successfully model. excited player. progress true omnichannel are we're a Kirkland's reposition assets into to our So, to transform place

with acquisition infrastructure turn we are customer As along just the earnings I'll you the business. product the of Nicole. overlay new the to over new categories with potential optimistic about outlined, now it

Nicole Strain

five X.X% combined a comp a compared sale Thank revenue, or store includes And increase e-commerce an of Mike. store quarter e-commerce Net year or XX.X% includes prior million quarter mortar year. and sales decline prior you, top in brick sales. a in XX.X% the decrease second for count to of stores. second double-digit the and XX.X% The increase decreased increase Comparable a that's comparable change the the of on in XX.X% in in and sales the QX. in X.X% store decrease sales and $XX of

macro revenue. to or brick the in environment to for the have declines. traffic a decline quarter our continue we shifts sales revenue contributed see to $XX.X double-digit declines increasingly during in The contribute average stores, in and and million XX% in traffic approximately decline. total the the accounted E-commerce promotional both mortar of ticket channel In

conversion increases average a were and in in which offset saw ticket. We traffic decline by

fulfilled the which increase quarter base channel. online approximately For the the profitability store were initiative sales our in to sales leverage e-commerce e-com and of XX% our supports our of drive store, to

our For year, the half the mortar in significant the de-leverage. costs and sales first of of brick expense declining fixed impact on has resulted

basis the was driven right points focused margin. from that and costs from sizing Gross primarily maximize year omnichannel the store a to and aggressively infrastructure profitability prior decreased our XX.X%. distribution merchandise And in model. XXX margin to QX de-leverage on occupancy are and profit decline of our We in

prior incremental shrink which favorable mix the both by margin count. basis by in decrease offset to and store XX.X% partially driven from by our annual points physical from decreased from margin product Merchandise XXX inventory discounting, results product year was a

increased shipping, e-commerce as Outbound freight points sales. which percentage cost, a includes net XX basis of

due by to costs transportation a That percent in of shipping decline decreased, our increase our in basis year offset distribution we store from in shipping e-commerce the center decline products Although sales. de-leverage over XXX the from costs saw as the stores provider quarter our was due and of brick fulfilled mortar increase to sales. occupancy contract. online points sales a new to prior shipping savings de-leveraged a and Store

compared a is costs significant As footprint from Mike aggressively reduce store as mentioned, we and makes sense. third-party leases renegotiate it believe have there engaged and our our opportunity brick to our Central points We was costs basis year, to calculations. DC and sales mortar remove percent store in de-leverage prior of to again due infrastructure. which increased primarily as XXX to warehouse a and our estimate capitalization the a change sales

we as a of quarter year. of fixed XX.X% up down as de-leverage over points E-commerce Store the store expenses operating gaining was of which leverage a of XXXX was XXX store expenses XXX points labor. second percent XXX sales, second the to quarter for decreased percentage sales due last basis $XXX,XXX of are expense points but on sales basis e-commerce costs. increased as Operating basis to the primarily

Corporate $XXX,XXX flat charges. primarily expenses a sales amortization XX relatively to prior percent Depreciation remained prior year. dollars points due and basis in increased increased the over XXX by the payroll or of points severance included as restructuring expenses year, which basis but related to

the impairment stores. value. quarter exceeded of recorded We value in an charge to fair million $X their related Carrying four

EPS. are XX% the the excluding of quarter benefit to in and from million year impairment compared XX% pre-tax for loss charges was prior The severance We the adjusted the period. $X.X or tax

transition the loss and or charges. in net $X.XX severance prior diluted of we to a for or store that's And $X.XX adjusting the share after adjusting $X.XX compared impairment per CEO the quarter, the per costs. For net loss $X.XX diluted a had share year of for

and to balance And had moving prior and we on flow compared repurchases, under was long-term $XX.X we in quarter, the the drew in year the driven increase cash operating $XX.X of $XX primarily at cash debt million decrease million our and sheet million share by the revolving were in the or end the no line revolver. period, statement, year-over-year of an the to outstanding quarter the Subsequent of credit. to performance The million $XX decline borrowings inventory. our on end of

the have borrowing. to credit currently do quarter, We $XX.X million approximately third the no additional outstanding in We of but with facility. the in end availability borrowings expect year

period increase over was XX% Our which at is year end $XXX.X over period. the QX prior the balance inventory million, approximately of an of the prior

the sales The well minimal product increased both of inventory fourth reduced and combination with new seasonal inventory includes funding receipts released and the categories There a third obsolete third quarter. in second risk early quarters the in first increase quarter, as as from in and is of soft and promotions. the inventory the

normal We inventory the levels by end to expect the year. fiscal return of to

Capital and due the were compared expenditures to $XX.X million was operations year. year. by million operating million $XX.X inventory. in used working compared cash decline prior prior the in million in to driven performance decrease Year-to-date The is $XX.X the by primarily in increase changes the to capital in $X.X

we top expenditures will our focus chain and capital e-commerce For to capital and e-commerce reduced efficiency sales fiscal initiatives supply have line and model. to and our profitability expected on of continue dollars improve the XXXX,

our stock that initiatives interest of are During quarter, We authorization value. our during our approximately repurchased the cash quarter. the in strongly and believe exhausted but XXX,XXX funding second be the undervalued, we still repurchase significantly long-term existing shares, is best conserving share will our third

additional we repurchase authorizations initiate intend do year. in to so fiscal this And not any share

loss of for XXXX. $X.XX range We fiscal our our to are a guidance $X.XX of updating earnings a to year

current of reflective the and margin results first and is year guidance trends. half of sales the our for This

traffic challenging. Specifically, remains

existing our has we for while the their not but the the now degree plans, and customers new and to and outperforming year. expected to in obtaining this quality New traffic runway at store ability impacted style of point The product in attract categories become customers guidance customers. the are contemplates longer new to our improvements key aware

tariffs, to X we offset thought prior had we throughout elasticity we the tariff relates to June. prices List increased increase it where As in store on moderately the

the recent of increases to partners We expect most round vendor working tariff those and are our details. through absorb

future fiscal the to benefit announced results reductions for full spread will continue which cost expect However, tariffs existing those expected quarter, includes forward we our fully realize to to some third XXXX. or year. and the the and fiscal of across impact have greater this guidance This is last carry primarily impact range fourth we quarters, on to a benefits

to happy we questions. any would now be And answer

Operator

you. Thank

We will question-and-answer will [Operator now the ahead. Lebiedzinski begin Anthony Sidoti of from Please Instructions] Our come Company. today question go & session. first

Anthony Lebiedzinski

questions. and morning, taking you thank the good for Yes,

perhaps So comment how are so you seeing as that with trending of you first, first the just I through far results of can trends, guys or similar wanted as to-date kind quarter, start QX to you're the to the week second on September?

Woody Woodward

was relatively consistent the somewhat getting with were introduced we the new as disrupted new Well, our categories floor. August products with on floors trends and previous

for trend and have in trends we're but see days, optimistic the traffic. we hopeful, yet seen and about, hopeful, of woods four about, first terms in in we're and we're an We September the optimistic uptick not -- we're starting which of but out we're

Anthony Lebiedzinski

Got it, right.

your plans, spending try So you're your existing that as to looking gain perhaps new as come reach elaborate customers? out you your to some both to stores as to customers far to and how more can to also on marketing

Woody Woodward

store best our quality out in set, better But seen take an and our prospecting then a as to current customers better the for our we're towards being And categories. approach time of be But driving store. our some improvement. where customers we're Kirkland's, and new putting a a that they've to into spend, the do of because over bet that in that new more and budgets are come we customers floor a the of they our people on tell increases. have agree Because current has feel depending money in into relevance. earned world trends, dollars conservative traditional customers our marketing new the are educating of relatively slight most we're period I marketing digital in of our firmly of campaigns, portion customers we we where to a the like did engaging marketing have We where drive change communicating

throughout at your location to some your that kind you in the the and know so to entire buy and and a wreaths, it relevant process products, your seasonal the the past bought for that Christmas a become and of that to just products, to and let rug, process, Remember when customer came transition tabletop decorating while to decorating your dining customers them bedding, decorating qualified end now trying you takes a little a the entire of process. engaged we're that products, candles, were we're get table, maybe make and

Anthony Lebiedzinski

store perhaps be out And very those profitable, negative are metrics that on an of your on of subject, Got but do as lease if EBITDA give potential know it, we're far that most okay. at would you you us can some those sense I that And give store helpful. that, think would to how many maybe as while you're number as share of on of done say need a a not maturity exit number leases be could basis, also, closures, then you or - specific to for early? the you of to would prepared you'll stores

Mike Cairnes

morning, Yes, Anthony. good

Anthony Lebiedzinski

Good morning.

Mike Cairnes

west this while. will northeast. for those the perhaps be we what So, in our initiated increase at looking is EBITDA third just dramatically of a of all a XX% following. profitability. majority negative. We've or And we base to And process the store stores say our at with is opportunities been are less I than Currently store looking tend the to the party. And this

base leveraging as reduction. shipping infrastructure through So store Yes, our flow going rent that asset our unprofitable of from also, closure be e-commerce to better also for some includes stores. therefore and the get there'll but changes, with we're be we're stores, outlined

months confident to very be we'll this. three approach a portfolio in update specifically And in you stands. I'm that get we'll where position more we the into that a So next taking be all to as four

Nicole Strain

for them our think, Yes, as but they at renewal, very looking come addressing portfolio, Mike and said, just regardless of Anthony, I at specifically, holistically, entire them up term. term not as looking

Anthony Lebiedzinski

And, in that that's are it, helpful. the you number Got pipeline. initiatives okay, obviously, a have of

you return happen? to You expect mentioned us at to Can when profitable could give would a you some that that point sense growth. to as

Nicole Strain

future and Yes, when will but do the details that lot the in to I to But opportunity that again, think specifics as it's we list release our we there's infrastructure, profitability with the the play changes but in so on to XXXX. that think improve lot on resets get we year look profitability. at and there XXXX, would definitely more of things of the a is point, in that that a of part future, will we'll give first more have still initiative be impact we

Anthony Lebiedzinski

Got well, best of luck. and thank it. All right, you

Nicole Strain

you. Thank

Woody Woodward

Thank you.

Operator

come go today next will Our ahead. FBR. Sinderen Jeff Riley B. from Van of Please

Jeff Van Sinderen

then, you excess the the a everyone. any be are reduction that there at color morning, areas can of line then but in cost other the just the speak you're still are of, think reduce are kind of? or can operating line, going could consist What you for between more evenly mill, other those do And QX place further it and question forward? should just aware one of is are second-half multi-part add -- you you've about QX? it's kind more handling how also, to where that here, on expense And it's does that? you identified And thinking there of we Good you split looking concentrations expect, that inventory

Woody Woodward

inventory, will the that second-half handle the then of question. on taking probably I'm here. Woody and is This Jeff. right, All Mike

the carries. overage of the mostly on with the don't of short categories. those they're And new being half in a categories, stock have seasonal lot would intentional product say purchasing life of I category, that same they the inventory, new quite our core and On so is

first quarters. half sales just second your mixing the plans is other in The two simply

considered seasonal, good done we've be merchandise. we of is product about good job more overage left that's would in good liquidating that feel anything a so our any high-quality, Although relevant,

not position So in we products. yet lumps a of we really where have core were

we're quarters, great fourth we selling into in get about. season our can so we going So number really and number a probably the that that one feel third

concern; a specifically a buy I did not up, inventory, going So anyway, Mike, we that but that. it to look to say dirty I'm huge when got turn so over I

Mike Cairnes

So, historically our we is been just a which on of both the have our bolt-on we products very our it's at product, very set Kirkland seasonal assortments, feel and overhang part, seasonal strong little has our inventory about about. indicator strength of any fall Christmas the initial harvest of concerns in selling and an

still reductions, cost of track take cost Regarding on the we $XX the million to are reductions. well

anything carry QX will relatively without movements, any with and specifically that top continue business, line as yes, movement to year, QX. into of look split in any XXXX, which Second-half and infrastructure and sales, would needed XX-XX the interfere our this Meanwhile, additional forward in we'll disrupting changes. cost it's also and at reductions on

Jeff Van Sinderen

merchandising And I on in-store give there're we about you mentioned should XXXX some the how prepared relative talk the content? basis? heading you're you know then, then the Okay. categories into only anticipate us merchandise on that changes Web there. where there seeing that? comments, you've to customers can changes I made your are some far in a if even And site color responding, traction, you're extent and new guess what are the more what success to but early you other Obviously, learning, any so to Can that

Woody Woodward

Okay.

rugs first there, fully points right floor. all, the of good now several tabletop So, on engaged and in

the was would full there, their a but introductions. home to in good I are feel made I we at adjustments really hitting looking and Rugs both The tabletop both going textiles. are in those planned, So, about those the plans. say homerun, some as be dinnerware

The week weeks. on next the We third the happens floor. in two land introduction next the bedding the bed and fact,

store. into brand the product, new will the introduction third So our to that products new be final and

We've Our taking are to the art. seems We ongoing, products hold. musical in some just original having that her that got partnership we're more be artwork Dolly uptick with artwork. Parton some announced

when to seems problem having seasonal that traffic Our hard still improving decline, it's been able really our a product just traffic is sales we yet. is with the haven't offset those be to the you're trend overall quite double-digit absolutely declines, to But traffic overall working. and ensure

the for say be with a line chair, first and part with year. upholstered recliner, call the year, a forward next starting of on we last of upholstery a going introducing that some in next a did we of first-half the chair, other Now, furniture then would mostly

we not at I really said somebody one be of it's So, excited journey for we're about that. home the Like of before, entire want end the to redecorating home, cycle intentional. the purchase, the considered players as of very your just so, and very all

it's lot shop, of set, and getting it's they and the floor to and assortment more a fresh new. that the open, from store store both love associates saying, our looks credit employees easier new saying, store customers stores whole are other are Our and we're and

to need let just we take So, that place.

smarter that e-commerce now muscles in store. is our excited we're up on a on great it. of XX% Web e-commerce store, ability, e-commerce we our ship we're the building We're sales, online which to front-end our to feel the on your buy just address approaching about getting the the very of about the continuing drives and promotional both and accelerate ability to question sales, back-end the of our slate the e-commerce now on levers then on out And site, experience. pick acceleration our and improvements, We're

another in mentioned ship store, a to level. XXXX will As which the I bolting in think we from whole previous be opening will then comment, I take us and on

the e-commerce continuing as a So, this is asset invest combining in, base true model. our an omnichannel in capabilities an we're with store area for leveraging to and where

Jeff Van Sinderen

if could, think we gross about more Okay. some half? for margin then given I should second how parts, just And one moving

Nicole Strain

built sales the year. that through of remain into last will the Yes, our guidance is consistent trends to pretty relative back-half and margin year

Jeff Van Sinderen

best taking for Okay, luck. of my thanks and questions

Woody Woodward

Jeff. you, Thank

Mike Cairnes

Jeff. you, Thank

Operator

At to this session. conference time, turn Ladies closing Woodward our and to question-and-answer gentlemen, I'd this any for over remarks. will the conclude Woody back like

Woody Woodward

today, on results. for next hopefully of and our you forward being Thank improved we to calls you. call Thank look the several

Operator

attending now The we and thank conference concluded, today's for presentation. you has

You disconnect now may your lines.

Kirkland's (KIRK) 5 Sep 192019 Q2 Earnings call transcript