Kirkland's guidance conservative, Wedbush says, shares upgraded


Kirkland's (KIRK) is upgraded to Outperform at Wedbush where analyst Joan Storms says investments in systems and personnel and better processes are "translating to better buying in key categories such as wall décor and decorative accessories as well as higher conversion rates and average ticket."

Shares rose 10.5% Thursday following Q2 earnings.

Storms also notes that the company raised its EPS outlook by less than the quarterly beat, suggesting management may be playing it conservative.

Additionally, "upside potential from comps and gross margin ... should more than offset important marketing investments."

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