Kirkland's Inc. (KIRK) reported first quarter net income of $0.10 per share Friday morning, down from $0.15 per share in the previous year. The consensus estimate was for EPS of $0.10. The company expects to report a second quarter loss of $0.11 to $0.07 and a profit of $0.87 to $0.97 for the full year.
Kirkland's gapped open lower Friday and dropped sharply in early trade. The stock settled into a range for the majority of the day and closed down by 2.19 at $10.66 on above average volume. Kirkland's has been on a downward trend for the last month and a half and set a 7-month low.
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