Why Kirkland's Stock Skyrocketed Today

Shares of Kirkland's (NASDAQ: KIRK) have skyrocketed today, up by 24% as of 1 p.m. EST, after the company reported strong third-quarter earnings. Revenue in the fiscal third quarter was $146.6 million, slightly ahead of the consensus estimate of $145.5 million in sales. "The momentum we established late last year has continued through the third quarter with positive comparable sales in both the store and e-commerce channels exceeding our expectations, significant year-over-year margin improvement and permanent cost reductions driving earnings growth and cash generation," CEO Woody Woodward said in a statement.