August 24, 2016 7:55 PM ET

Specialty Retail

Company Overview of Francesca's Holdings Corporation

Company Overview

Francesca's Holdings Corporation, through its subsidiaries, operates a chain of retail boutiques. It offers fashion apparel, jewelry, accessories, and gifts primarily for women between the ages of 18 and 35. The company’s apparel products comprise dresses, fashion tops, sweaters, cardigans and wraps, bottoms, outerwear and jackets, tees and tanks, and intimates; and jewelry includes necklaces, earrings, bracelets, and rings. Its accessories consist of handbags, clutches, wallets, shoes, belts, hats, scarves, sunglasses, watches, and hair accessories; and gifts include fragrances, candles, bath and body, home accessories, books, wall art, nail polish, and miscellaneous items. As of March 23, ...

8760 Clay Road

Houston, TX 77080

United States

Founded in 1999

1,316 Employees

Phone:

713-864-1358

Fax:

713-426-2751

Key Executives for Francesca's Holdings Corporation

Chief Administrative Officer, Executive Vice President, General Counsel and Corporate Secretary
Age: 55
Total Annual Compensation: $383.8K
Chief Merchandising Officer and Executive Vice President
Age: 47
Total Annual Compensation: $88.5K
Compensation as of Fiscal Year 2015.

Francesca's Holdings Corporation Key Developments

Francesca's Holdings Corporation Reports Consolidated Earnings Results for the First Quarter Ended April 30, 2016; Provides Earnings Guidance for the Second Quarter Ending July 30, 2016 and for the Year Ending January 28, 2017; Plans to Open 15 to 20 New Boutiques and to Close 1 to 5 Boutiques for the Second Quarter Ending July 30, 2016 and Plans to Open 50 to 60 Boutiques and to Close 5 to 10 Underperforming Boutiques for the Full Year Ending January 28, 2017

Francesca's Holdings Corporation reported consolidated earnings results for the first quarter ended April 30, 2016. For the quarter, the company reported net sales of $106,113,000 against $95,011,000 a year ago. Income from operations was $11,464,000 against $11,890,000 a year ago. Income before income tax expense was $11,355,000 against $11,714,000 a year ago. Net income was $7,081,000 against $7,241,000 a year ago. Diluted earnings per share were $0.18 against $0.17 a year ago. Net cash provided by operating activities was $1,899,000 against $15,596,000 a year ago. Purchase of plant, property and equipment was $5,121,000 against $8,721,000 a year ago. The increase in sales was due to a 2% increase in comparable sales driven by an increase in the number of transactions both at the boutiques and on-line as well as the opening of 48 net new boutiques since the comparable prior year period.  For the second quarter ending July 30, 2016, net sales are expected to be in the range of $106 million to $110 million; assuming a mid-single digit decrease in comparable sales compared to the prior year decrease of 4%. Diluted earnings per share are expected to be in the range of $0.16 to $0.19, which includes a $0.04 per share impact as the result of the reversal of previously accrued stock-based compensation expense related to the forfeiture of unvested awards granted to previous Chairman, President and Chief Executive Officer who resigned on May 15, 2016. The company plans to open 15 to 20 new boutiques and close one to five boutiques during the second quarter. For the full year ending January 28, 2017, the company now expect net sales to be in the range of $460 million to $480 million; assuming a flat to a low-single digit decrease in comparable sales compared to a prior year comparable sales increase of 3%. Diluted earnings per share are now expected to be in the range of $0.86 to $0.96, which includes a $0.04 per share impact as the result of the reversal of previously accrued stock-based compensation expense related to the forfeiture of unvested awards granted to previous Chairman, President and Chief Executive Officer who resigned on May 15, 2016. The effective tax rate is estimated to be 37.8%. Capital expenditures are expected to be in the range of $28 million to $31 million. Adjusted earnings per share are expected to be in the range of $0.82 - $0.94. The company expects to open 50 to 60 boutiques and close five to ten underperforming boutiques in fiscal year 2016 compared to 83 new boutiques opened and six boutiques closed in fiscal year 2015.

Francesca's Holdings Corporation Announces Executive Changes

Francesca’s Holdings Corporation announced that its Chairman, President and CEO, Michael W. Barnes has resigned for personal reasons effective immediately. The Company’s former Lead Director, Richard W. Kunes, has been named interim Chairman, President and CEO. Mr. Kunes has served on the Company’s Board since February 2013 and served as the Lead Director from July 2015 until his appointment as interim CEO. A search for a successor has commenced. Previously, Mr. Kunes served as Executive Vice President & Senior Advisor to the Chief Executive Officer at The Estée Lauder Companies Inc. from August 2012 to June 2013.

Francesca's Holdings Corporation Reports Preliminary Sales Results for the First Quarter Ended April 30, 2016; Provides Preliminary Earnings Guidance for the First Quarter Ended April 30, 2016

Francesca's Holdings Corporation reported preliminary sales results for the first quarter ended April 30, 2016. For the period, the company reported preliminary comparable sales increased 2% as compared to the fiscal first quarter 2015. For the first quarter of 2016, the company expects preliminary EPS to be $0.17.

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Recent Private Companies Transactions

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March 23, 2016
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