Kirkland's, Inc. (NASDAQ: KIRK) today announced that Robert Alderson, the Company’s long-time President and Chief Executive Officer, has advised the Board of Directors of his intention to retire from the Company at the end of fiscal 2013, or approximately February 1, 2014.
Mr. Alderson, 66, noted, “Over the past five years, we’ve restored Kirkland’s stability and significantly enhanced its profitability. We’ve also completed a huge amount of foundational work in systems, e-commerce, marketing, merchandising process, real estate and store operations. Over the course of the year, we will continue to work on substantially upgrading our merchandising talent and leadership. I have enjoyed the last 27 years at Kirkland’s, but now is the right time to begin recasting the leadership.”
Wilson Orr, the Company’s Chairman, noted, “Robert is an exemplary leader and has given much of himself to Kirkland’s over the past three decades. We obviously respect his desire to step back at the end of the year and will work with him on planning for the appropriate leadership for the next phase of our growth.”
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 317 stores in 35 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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