Penny Stocks To Buy [or ignore] #4: Kirkland’s Inc.
Next, Kirkland’s Inc. (KIRK – Free Report) closed last week in bullish fashion. After falling to new 52-week lows earlier in December, the stock has been on the move. Friday (1-17) saw shares reach highs of $1.63 before closing out at $1.60. Trading continued well-after the 4 PM bell as well.
A big concern recently was regarding the company’s business, in general. Profitability remained a key focus as well. Last week the company announced new management changes as well as addressed these fundamental concerns. The company’s President and COO, Michael Cairnes was ousted.
Furthermore, its sitting CEO, Woody Woodward assumed the President seat and now oversees operations. Kirkland promoted its VP of Supply Chain to Senior VP of that role and promoted current CP of Transformation, Jeff Martin, to SVP of Omni-Channel Retail.
Mr. Woodward said in a press release, “As we have outlined, our plan includes efforts to improve the relevancy and quality of our merchandise assortment, to operate with greater efficiency, and to lower our cost of goods as we evolve to a true omni-channel model that reinforces Kirkland’s value heritage. We believe the initiatives included in the plan are the right path for the future of the Company and look forward to providing updates regarding our progress in our fourth quarter earnings release and conference call.”
