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The Brand House Collective, Inc. (NASDAQ:TBHC) announced Friday that it has amended the employment agreement with its President and Chief Executive Officer, Amy E. Sullivan, to increase her annual salary to $700,000, effective Sunday. The announcement comes as the company, with a market capitalization of approximately $28 million, faces significant financial challenges. According to InvestingPro data, TBHC reported a net loss of $26 million in the last twelve months.
The amendment to Ms. Sullivan’s employment agreement was approved and executed by the company on Friday, according to a statement filed with the Securities and Exchange Commission. The company, formerly known as Kirkland’s, Inc., is based in Brentwood, Tennessee.
The filing states that the summary of the amendment’s material terms is not comprehensive and refers to the full text of the amendment and the original employment agreement, which were included as exhibits to the SEC filing.
This information is based on a press release statement included in the company’s Form 8-K filing with the SEC.
In other recent news, Kirkland’s Inc. reported its fourth-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.54, which did not meet the forecasted $0.59. The company’s revenue also fell short of expectations, totaling $148.9 million compared to the anticipated $150.09 million. Amidst these financial results, Kirkland’s announced a significant rebranding effort, planning to rename itself as The Brand House Collective, Inc. This change is part of its strategic transformation into a multi-brand retail operator. The company will seek shareholder approval for the name change and a ticker symbol update at its annual meeting in July 2025. Additionally, Kirkland’s appointed Andrea Courtois as the new Chief Financial Officer, succeeding Mike Madden. Courtois’s appointment is part of ongoing leadership changes aimed at supporting the company’s transformation efforts. These developments highlight Kirkland’s commitment to evolving its business model and leadership structure.
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