Shares of Kirkland's Inc. KIRK, -19.04% plummeted 20% in midday trade Thursday, after the home decor retailer's fiscal second-quarter results hit the trifecta of misses. The net loss for the quarter to Aug. 4 widened to $6.7 million, or 43 cents a share, from $3.8 million, or 24 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted per-share loss of 40 cents was wider than the FactSet loss consensus of 36 cents a share. Sales rose to $133.9 million from $131.7 million, but missed the FactSet consensus of $136.6 million, as the 3.9% decline in same-store sales was worse than expectations of a 2.3% decline. "Consistent with our previous expectations, we had a challenging quarter that was impacted by a lack of newness," said Acting Chief Executive Mike Cairnes. The company affirmed its 2018 EPS outlook of 50 cents to 60 cents. The stock has now shed 23% year to date, while the SPDR S&P Retail ETF XRT, -0.81% has rallied 14% and the S&P 500 SPX, -0.53% has gained 8.7%.
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