HOUSTON, Aug. 21, 2017 (GLOBE NEWSWIRE) -- Francesca’s Holdings Corporation (NASDAQ:FRAN) today announced the departure of Laurie Hummel, EVP and Chief Merchandising Officer. The Company has commenced a search for a new Chief Merchant.
Steve Lawrence, President and CEO, stated, “We have a lot of talent in our merchandising team and are confident in their ability to execute our strategy as we search for a new Chief Merchant. During this period, the team will report directly to me. We wish Laurie well in her future endeavors.”
Preliminary Second Quarter Results
Preliminary comparable sales for the fiscal second quarter ended July 29, 2017, decreased 3% and preliminary diluted earnings per share for the second quarter is expected to be $0.20.
Mr. Lawrence continued, “We are pleased to have exceeded our second quarter EPS guidance, driven by better than expected merchandise margin and lower than expected SG&A. That said, we note that back-to-school has been off to a very challenging start and our comparable sales have further decelerated from July. We will provide additional detail on our second quarter performance, as well as discuss our third quarter and full year outlook, on our upcoming earnings call.”
A conference call to discuss second quarter results and third quarter and full year expectations is scheduled for September 6, 2017, at 8:30 a.m. ET.
Please note these results are preliminary and subject to change. The Company and its external auditors have not completed their normal quarterly closing and related review procedures and there can be no assurance that final results for the quarter will not differ from the preliminary results, including as a result of quarter-end closing procedures or review adjustments. In addition, these preliminary results should not be viewed as a substitute for full interim financial statements prepared in accordance with GAAP that have been reviewed by the Company’s external auditors.
About Francesca's Holdings Corporation
francesca's® is a growing specialty retailer which operates a nationwide-chain of boutiques providing customers a unique, fun and personalized shopping experience. The merchandise assortment is a diverse and balanced mix of apparel, jewelry, accessories and gifts. Today francesca's® operates approximately 679 boutiques in 48 states and the District of Columbia and also serves its customers through francescas.com. For additional information on francesca's®, please visit www.francescas.com.
