Kirkland's, Inc. (NASDAQ: KIRK) today announced that Robert Alderson, the Company’s President and Chief Executive Officer, will take a temporary medical leave of absence, effective November 26, 2012. Mike Madden, the Company’s Senior Vice President and Chief Financial Officer, will assume the additional responsibilities of acting President and Chief Executive Officer in Mr. Alderson’s absence. The Company fully expects Mr. Alderson to resume his duties as President and Chief Executive Officer after an approximate 6- to 8-week recovery period from a non-emergency medical procedure.
Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home décor in the United States. Although originally focused in the Southeast, the Company has grown beyond that region and currently operates 313 stores in 33 states. The Company's stores present a broad selection of distinctive merchandise, including framed art, mirrors, candles, lamps, picture frames, accent rugs, garden accessories and artificial floral products. The Company's stores also offer an extensive assortment of gifts, as well as seasonal merchandise. More information can be found at www.kirklands.com.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Kirkland's actual results to differ materially from forecasted results. Those risks and uncertainties include, among other things, the competitive environment in the home décor industry in general and in Kirkland's specific market areas, inflation, product availability and growth opportunities, seasonal fluctuations, and economic conditions in general. Those and other risks are more fully described in Kirkland's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K filed on April 12, 2012. Kirkland's disclaims any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.
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