Business Analysis: Kirkland
Introduction In 1966 Carl Kirkland co-founded Kirkland’s in Jackson, Tennessee (Kir15). Today, Kirkland’s main sales support center is located in Brentwood, Tennessee which supports 337 stores in 35 states. Being a specialty retailer of home décor and gifts, their primary products are merchandise such as framed art, mirrors, wall décor, candles, lamps, decorative accessories, accent furniture, textiles, garden-related accessories, artificial floral products and holiday merchandise. The subsidiary companies owned by Kirkland’s, Inc. are Kirkland’s Stores, Inc., Kirkland’s DC, Inc., Kirkland’s Texas LLC, and Kirklands.com, LLC (USS10K).
Effective February 8, 2015, Robert Alderson retired from his position as Chief Executive Officer. Because
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They purchased about thirteen percent of their resalable merchandise from him in 2014. The major direct holders of Kirkland’s stock are Miles Kirkland with 23,000 shares, Carl Kirkland with 995,422 shares, Robert E. Alderson with 725,143 shares, W. Michael Madden with 110848 shares, and Michelle Graul with 44,095 shares. The top institutional holders who own five percent or more of the company are Nokomis Capital, LLC with 6.83%, Paradigm Capital Management with 6.73% and BlackRock Fund Advisors with 5.02%. No Mutual Fund Holders owned five percent or more of the company …show more content…
They are in the expansion stage of a company. Expansion into new markets is the key element of Kirkland’s growth strategy. Their success is dependent on maintaining an appropriate level of cash flow and the ability to finance either through debt or equity. Effective negotiations of leases are also an important step for being able to grow. Minimizing inventory cost, maintaining inventory quality, reducing the amount of inventory obsolescence, and controlling the amount of inventory theft are extremely vital to the success of the company. Personnel are central in attaining success in any business or industry. Hiring, training and retaining employees who are skilled is imperative. The economy is also a driving force in the success of any business in this industry because a large portion of the sales is driven by the holidays. In a bad economy, customers tend not to spend as much resulting in lower overall sales for the company during those economic downturns in the economy
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