Robert Alderson, president and CEO of Kirkland's, will soon take leave from the company for up to two months to be treated for an unspecified but non-emergency medical issue.
Kirkland's said in a statement that it "fully expects" Alderson to return to its helm after a recovery period of six to eight weeks. Alderson has led the home good retailer since early 2006. Taking his place on an interim basis effective next Monday will be CFO Mike Madden.
Word of Alderson's medical leave came alongside third-quarter results that beat the company's previously lowered expectations. Kirkland's posted a net loss of $416,000 on sales of almost $97 million. Per diluted share, that came out to a loss of 2 cents. The company had forecast a loss of between 3 cents and 7 cents per share.
Same-store sales fell 4.7 percent versus a year ago, near the high end of the company's range. Alderson said his team's outlook for the holiday shopping season "remains conservative and somewhat cautious due to limited visibility less than a month into the quarter."
Shares of Kirkland's (Ticker: KIRK) closed Monday trading up more than 2 percent at $8.98. Year to date, they're down about 30 percent.
- BRASWELL, ROBERT
- GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR
- GARRETT, TIMOTHY M EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR
- GARRETT, JOHNNY C IV EXECUTOR; GARRETT, JOHNNY C EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR