UPDATE 1-Kirkland's to close 35 to 40 stores in FY09-filing
* Says to open 15-20 stores in FY09
* Sees FY09 capex $9 mln-$10 mln
* Shares up 7 pct after the bell
April 20 (Reuters) - Home accessories retailer Kirkland's Inc (KIRK.O) said it expects to close about 35 to 40 stores in fiscal 2009, according to a regulatory filing.
"While the plan for fiscal 2009 represents a further reduction in the store base, we expect the store count to reach a bottom by the end of the year," the company said in a filing with the U.S. Securities and Exchange Commission.
Half of the closings for fiscal 2009, which ends Jan. 30 2010, are expected during the first half of the year, and rest after the holiday season, said Kirkland's.
The company ended fiscal 2008 with 299 stores.
Kirkland's expects to open 15 to 20 stores in fiscal 2009, with most of the store openings expected to take place in the third and fourth quarters.
Shares of the Jackson, Tennessee-based company were trading up 7 percent at $6.68 after the bell. They closed down 11 percent at $6.23 Monday on Nasdaq.
For the alerts, please double click [ID:nWNAB5188] (Reporting by Poojya Trivedi in Bangalore; Editing by Anne Pallivathuckal)
- Air strike kills 15 civilians in Yemen by mistake: officials
- Pope attacks mega-salaries and wealth gap in peace message
- Probation for drunk Texas teen driver who killed four sparks backlash
- Atheists face death in 13 countries, global discrimination: study
- North Korea says Jang Song Thaek, uncle of leader Kim Jong Un, executed