Procurement News Notice |
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| PNN | 8361 |
| Work Detail | Francesca's on Wednesday reported sales and earnings in the second quarter that beat expectations. The Houston-based women's clothing and accessories retailer logged net income of $10.6 million, up 13.8 percent. Diluted earnings per share were 27 cents, up from 22 cents year earlier. Same-store sales were flat, and in-store traffic was volatile, falling 9 percent at the beginning of the quarter but rebounding by the end, interim company Chairman and CEO Richard Kunes said. Net sales for the quarter increased 9 percent to $115.3 million over the same period a year earlier. Online sales grew 37 percent to $4.8 million. The company predicts that it will finish the fiscal year with net sales between $473 million and $488 million, up 8 to 11 percent. Diluted earnings per share are forecast to be 96 cents to $1.03. Francesca's opened 19 boutiques during the second quarter and closed four. The chain has 652 stores in 48 states and the District of Columbia, including 44 outlet stores. |
| Country | United States , Northern America |
| Industry | Textile |
| Entry Date | 15 Oct 2016 |
| Source | http://www.chron.com/business/retail/article/Francesca-s-2Q-earnings-beat-company-expectations-9207112.php |
