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June 26, 2014
13:25 EDTKIRK, BBRGKirkland's, Bravo Brio may be attractive to private equity, The Deal reports
Kirkland's (KIRK) and Bravo Brio Restaurant (BBRG) are among retailers that private equity firms could find attractive in the coming months, The Deal reports, citing industry sources. Reference Link
News For KIRK;BBRG From The Last 14 Days
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November 20, 2014
16:24 EDTKIRKOn The Fly: Closing Wrap
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12:46 EDTKIRKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analystsí consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analystsí consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
11:23 EDTKIRKKirkland's sees FY14 SSS up 4.5%-5.5%
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06:53 EDTKIRKKirkland's sees Q4 EPS 77c-84c, consensus 84c
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06:51 EDTKIRKKirkland's raises lower end of FY14 EPS view to 90c-97c from 87c-97c
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06:47 EDTKIRKKirkland's reports Q3 EPS 7c, consensus 3c
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November 12, 2014
08:11 EDTBBRGBravo Brio Restaurant commences $50M modified 'Dutch Auction' tender offer
Bravo Brio Restaurant announced the commencement today of a modified "Dutch auction" tender offer to purchase up to $50M in value of its common shares. The modified "Dutch auction" tender offer will be financed from borrowings under the company's new, five-year $100M senior secured credit facility. The tender offer is being made pursuant to the Offer to Purchase dated November 12, and the company's Schedule TO, which will be filed with the SEC and more fully sets forth the terms and conditions of the tender offer. Under the terms of the tender offer, BBRG's shareholders will have the opportunity to tender some or all of their shares at a price per share of not less than $12.50 and not greater than $14.50. Based on the number of shares tendered and the prices specified by the tendering shareholders, the company will determine the lowest per share price within the range that will enable it to purchase up to $50M in shares, or such lower amount depending on the number of shares that are properly tendered and not properly withdrawn. All shares accepted in the tender offer will be purchased at the same price, regardless of whether a shareholder tendered such shares at a lower price within the range. At the minimum price of $12.50 per share, BBRG would repurchase a maximum of 4,000,000 shares, or approximately 21.4%, of the company's outstanding common shares as of November 10, 2014.

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