Brand House Collective Inc (KIRK) News & EventsKIRKNews & EventsBrand House Collective Inc

Kirkland's names Andrea Courtois CFO, announces other executive appointments

Kirkland's announced a series of leadership appointments underscoring the company's strategic shift and new phase of transformation as The Brand House Collective. Andrea Courtois will join as SVP, CFO effective July 21, succeeding Mike Madden, who plans to pursue other opportunities but will remain in an advisory position until August 15 to facilitate a smooth transition. Courtois most recently served as VP of Financial Planning and Analysis at Francesca's, following tenures in financial leadership roles at La Senza, Lane Bryant, and Lands' End. Michael Sheridan joined as SVP, General Counsel & Corporate Secretary on June 30. Sheridan brings over two decades of experience and legal and executive leadership at Community Brands, Ceridian and Comdata. Mandy Gauldin has been promoted to VP, Talent & Culture. Prior to joining the company in 2017, she held team leadership roles in the consumer and retail sectors at California Closets and Estee Lauder.

Kirkland's to rebrand, change corporate name to 'The Brand House Collective'

Kirkland's announced plans to rebrand and change its corporate name from Kirkland's to "The Brand House Collective," reflecting the company's transformation into a multi-brand merchandising, supply chain and retail operator leading the brick & mortar vision and strategy for Kirkland's Home along with Beyond's growing portfolio of iconic home and family brands, inclusive of Bed Bath & Beyond, Overstock, buybuy Baby. "As part of our transformation into a multi-brand retail operator, we are executing an operational reset to streamline our footprint, strengthen core execution and build a stronger foundation for the future as The Brand House Collective. By consolidating real estate and leveraging underperforming store closures to reduce excess inventory, we believe we will drive faster inventory turn and maximize return on assets. Following the consolidation, we expect to move forward with approximately 290 of our current store locations as the foundational footprint for Kirkland's Home, Bed Bath & Beyond Home, and Overstock. As we look ahead, we expect that improved discipline around inventory productivity, asset management and balance sheet health will serve as our north star at every level of the organization - shaping how we operate, make decisions and deliver long term value." The company plans to officially change its name to The Brand House Collective pending shareholder approval at the company's upcoming annual meeting on July 24, 2025. In conjunction with its corporate name change, The Brand House Collective will change the company's ticker symbol from "KIRK" to "TBHC," pending shareholder approval at the company's upcoming annual meeting on July 24, 2025. Once effective, the "KIRK" trading symbol will no longer be active.

Kirkland's reports Q1 EPS (54c) vs. (68c) last year

Reports Q1 revenue $81.5M vs. $91.8M last year. CEO Amy Sullivan said, "Like many in retail, our Q1 performance was impacted by weather and the continued softness in consumer sentiment. Despite these challenges, we saw improvements in our store performance for the combined March and April period...While encouraged by our store performance, it is time to accelerate our transformation. We have already begun to take actions in moving excess and slower turning inventory in the first quarter and will continue the elimination of underperforming assets as we expand the utilization of our Bed Bath & Beyond, Overstock and buybuy Baby licenses. We are entering a new era in our organization as we reimagine our future as a multi-brand retail operator maximizing our partnership with Beyond. We are realigning our business to drive performance and profitability - strengthening our team, sharpening our operational discipline to improve inventory productivity, and accelerating the brand conversion or closure of underperforming assets across our portfolio. While we expect these decisive actions and the optimization of our assets to impact near-term performance, we believe rebuilding our foundation will unlock significant operating leverage, drive sustainable profitable growth and create long-term value for our shareholders."