francesca’s® Updates and Reaffirms Fourth Quarter 2016 Guidance Based on Holiday Results
January 09 2017 - 7:30AM
Francesca’s Holdings Corporation (NASDAQ:FRAN) today announced that
the Company has updated and reaffirmed its guidance for the fourth
quarter ending January 28, 2017 based on its holiday period sales
performance and current expectations for the remainder of the
quarter.
The Company now expects net sales for the fourth
quarter ending January 28, 2017 in the range of $144 million to
$146 million, assuming a 1% decrease to a 1% increase in comparable
sales. This compares to previous guidance of net sales in the
range of $143 million to $148 million, assuming a low single digit
decrease to a low single digit increase in comparable sales.
Fourth quarter diluted earnings per share are expected to be in the
range of $0.35 to $0.37 compared to the Company’s previous guidance
range of $0.33 to $0.37. Fiscal year 2016 diluted earnings per
share are now expected to be in the range of $1.05 to $1.07.
Steve Lawrence, President and Chief Executive
Officer, stated, “We are pleased with our solid holiday performance
which came on top of an 11% comparable sales increase in fourth
quarter last year. Our results reflect a strong response to
our merchandise offering as well as a disciplined and effective
promotional strategy. We are on track to deliver sales results in
line with expectations and diluted EPS at the higher end of our
previously announced guidance range.”
ICR Conference
As previously announced, the Company will be
presenting at the 19th Annual ICR Conference to be held at the JW
Marriott Orlando Grande Lakes in Orlando, Florida on Tuesday,
January 10, 2017 at 1:30 pm ET. Mr. Lawrence and Ms. Kelly
Dilts, Chief Financial Officer, will host the presentation.
The presentation will be webcast live at
www.francescas.com under the Investor Relations section. An
archived replay will be available two hours after the conclusion of
the live event and will remain on the website for ninety days.
Forward-Looking Statements
Certain statements in this release are
"forward-looking statements" made pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995,
as amended. Such forward-looking statements reflect our current
expectations or beliefs concerning future events and are subject to
various risks and uncertainties that may cause actual results to
differ materially from those that we expected. These risks and
uncertainties include, but are not limited to, the following: the
risk that we cannot anticipate, identify and respond quickly to
changing fashion trends and customer preferences; our ability to
attract a sufficient number of customers to our boutiques or sell
sufficient quantities of our merchandise through our ecommerce
business; our ability to successfully open and operate new
boutiques each year; and our ability to efficiently source and
distribute additional merchandise quantities necessary to support
our growth. For additional information regarding these and other
risks and uncertainties that could cause actual results to differ
materially from those contained in our forward-looking statements,
please refer to "Risk Factors" in our Annual Report on Form 10-K
for the year ended January 30, 2016 filed with the Securities and
Exchange Commission (“SEC”) on March 25, 2016 and any risk factors
contained in subsequent quarterly and annual reports we file with
the SEC. We undertake no obligation to publicly update or revise
any forward-looking statement.
The Company may not issue future press releases
discussing sales trends such as this one other than associated with
routine quarterly and annual financial reporting.
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 674 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.
CONTACT:
ICR, Inc.
Jean Fontana
646-277-1214
Company
Kelly Dilts 832-494-2236
Kate Venturina 832-494-2233
IR@francescas.com
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