But give Kirkland’s its due for turning around a retail ship that perhaps wasn’t sinking but was taking on water precipitously. Give that credit too to Steve “Woody” Woodward, the CEO and president who came on board in 2018 from Crate & Barrel and has led many of the changes that are paying off now.
When the pandemic hit and Kirkland’s closed all it stores, Woodward said the company “said let’s accelerate everything we’ve been doing while it’s quiet and we made very fast progress. When we did start reopening our stores we saw the improvements right away.” Stores have been freshened up with less cluttered displays and a more open feeling.
Kirkland’s furniture assortment previously was spotty: it sold chairs but no dining room tables and most of it was bought off-the-shelf from domestic resources. “We rounded out our assortment and now 20% of our furniture is direct import,” he said. “We expect to get that up to 40 to 50% eventually.” Online had represented just 15 to 20% of Kirkland’s overall business but is now up to 30% and Woodward said that will grow “naturally” to 40 to 50%. “We’re going to let our customer direct it.”
Many of these changes were reflected in the company’s second quarter numbers, which showed overall sales up 4%, comp store numbers up 10.2% and e-com business jumping 77%. All of which came with better margins and a stronger bottom line. The stock hit a 52-week high of $13.48 in early October.
If you looking for any Stationary Design then I am requesting you to please visit here
Hi Realtors, Hope you are doing well. I ensure that your designs not only look good but also make SALES. We can work in any type of Modern/ Vintage / Minimal / Elegant real estate social media post design.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Newsweek - 🏆 468. / 52 Read more »
Source: Allure_magazine - 🏆 473. / 51 Read more »
Source: NPR - 🏆 96. / 63 Read more »
Source: voguemagazine - 🏆 715. / 51 Read more »
Source: POPSUGAR Fitness - 🏆 401. / 53 Read more »