Kirkland's reported financial results for the second quarter ended August 1, 2015. Net sales increased 11.4% to $115.3 million compared with $103.5 million for Q2 August 2, 2014.
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Comparable store sales for the second quarter of fiscal 2015, including e-commerce sales, increased 6.7% compared with a comparable store sales increase of 3.6% in the prior-year quarter. Kirkland's opened nine stores and did not close any stores during the second quarter, bringing the total number of stores to 351 at quarter end.
Net sales for the 26 weeks ended August 1, 2015, increased 10.3% to $233.6 million compared with $211.7 million for the 26 weeks ended August 2, 2014. Comparable store sales, including e-commerce, for the 26 weeks ended August 1, 2014, increased 4.8% compared with an increase of 4.3% in the prior-year period. Kirkland's opened ten stores and closed three during the 26-week period.
For the 13 weeks ended August 1, 2015, the Company reported a net loss of $2.3 million, or ($0.13) per diluted share, compared with a net loss of $1.1 million, or ($0.06) per diluted share, for the 13 weeks ended August 2, 2014.
Results for the second quarter of 2015 include an operating expense of $0.02 per diluted share related to an isolated data processing issue involving the receipt of credit card funds for one specific day during the last week of the quarter. The issue, which has been addressed, did not compromise data integrity or affect any of the Company's other systems.
For the 26 weeks ended August 1, 2015, the Company reported net income of $0.2 million, or $0.01 per diluted share, compared with net income of $1 million, or $0.06 per diluted share for the 26 weeks ended August 2, 2014.
Adjusted net income for the 26 weeks ended August 1, 2015 was $0.6 million, or $0.03 per diluted share.
Adjusted net income for the first 26 weeks of 2015 excludes a $0.02 per diluted share charge in the first quarter of 2015 related to the retirement of the Company's previous CEO. ■