Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Francesca's Profit Tops Estimate; Stock Up - Update

RELATED NEWS
Trade FRAN now with 

Apparel retailer Francesca's Holdings Corp. (FRAN: Quote), Tuesday reported a higher fourth-quarter profit, aided by strong same-store sales growth and robust demand for its clothing and jewelry. The company's earnings and sales for the quarter topped Street estimates.

Moving forward, the company provided strong sales outlook for the first quarter. Shares of the company are gaining 5 percent in after-hours trade on the Nasdaq.

"We delivered another quarter of strong growth and profitability as the company's differentiated shopping experience continues to resonate with new and existing customers...," said CEO Neill Davis.

Davis added, "Looking ahead, we continue our growth trajectory with 80 openings for fiscal 2013, reaching the milestone of over 400 locations by the end of the first quarter."

Houston, Texas-based Francesca's reported fourth-quarter net income of $14.9 million or $0.33 per share, up from $8 million or $0.19 per share last year.

On average, 14 analysts polled by Thomson Reuters estimated earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter rose 40.6 percent to $86.7 million from $61.7 million last year. Analysts on consensus estimated sales of $84.92 million for the quarter.

The revenue growth was led by a 9.2 percent comparable boutique sales increase, as well as strong growth in clothing and jewelry categories.

Gross margin for the quarter improved to 53.37 percent from 52.45 percent in the prior year.

For the first quarter, Francesca's expect earnings of $0.25 to $0.26 per share on sales of $79.5 million to $80.5 million. Analysts currently expect earnings of $0.26 per share on sales of $78.36 million for the quarter.

For the full year ending February 2014, the company expects earnings of $1.27 to $1.30 per share on sales of $365 million to $370 million. Analysts currently expect earnings of $1.27 per share for the year, on sales of $370.90 million.

The company's stock closed Tuesday at $26.98, down 1.68%, on a volume of 2 million shares. In after hours, the stock gained 4.97%.

Register
To receive FREE breaking news email alerts for Francesca's Holdings Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.