Kirkland's Inc. (KIRK) 2009年年度报告「NASDAQ」.pdf

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1、operating excellence.record profitability.sales momentum.2009 annual reportCorporate HeadquartersCorporate Offices and Central Distribution Center10161617812118810755224471142337This map indicates the states where our stores are located and the number of stores within each state as of January 30,201

2、0:Glensford Commonsfayetteville,north CarolinaFiscal 2010 will be the first year since 2006 where we are expecting net store growth,as we have aggressively pruned our store base of marginal or unprofitable stores.Great opportunities remain in relocating stores to the dominant power strip center in t

3、he market.In fact,much of the real estate success in 2009 was driven by such deals.We still operated 66 mall stores at the end of 2009,almost all of which are profitable after recent lease adjustments and the positive effect of significantly better merchandising.We expect to relocate most of these s

4、tores to strip centers over the next two to three years.We will continue to fill in existing markets in Sun Belt states as opportunities are presented.The stability of the Texas market and recent noticeable improvement in our stores results in the remainder of the Southwest,California,and Florida su

5、ggest continued upside for store growth beyond relocations.We also can capitalize on proven success in other geographical areas and will carefully return to greater store development and density in the Mid-Atlantic,suburban markets in the Midwest,and,later,the Northeast.Store base Growth opportunity

6、 5165134Fiscal Fiscal(inthousands,exceptpersharedataandperformancemetrics)2009 2008statement of inCome dataTotal revenue$406,194$391,277Gross profit 168,506 133,991Operating income 46,938 9,669Income before income taxes 46,985 10,088Net income 34,570 9,305Diluted earnings per share$1.71$0.47Adjusted