Zacks Investment Research downgraded shares of Kirkland's Inc (KIRK) from OUTPERFORM to UNDERPERFORM on March 21, 2014, with a target price of $18.00.
We downgrade our recommendation on Kirkland's Inc. to Underperform following the disappointing fourth-quarter fiscal 2013 results. Lower-than-expected top line resulting from bad weather that lowered store traffic during the holiday season was responsible for the soft results. Kirkland's' reported earnings of $0.69 per share declined 15.9% year over year. Net sales declined 4.2% and fell short of management's expectation and the Zacks Consensus Estimate. Moreover, the slowdown in the home building sector is expected to affect demand for the company's home furnishing products.
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