francesca's(R) Announces Organizational Change
January 27 2014 - 9:00AM
Francesca's Holdings Corporation (Nasdaq:FRAN) today announced a
leadership change in its management organization.
In connection with a restructuring of management, Theresa
Backes, President and Chief Operating Officer of francesca's®, will
be leaving the Company effective January 27, 2014.
On January 24, 2014, the board of directors appointed Neill P.
Davis, francesca's® current Chief Executive Officer, to the
additional title of President, effective as of January 27, 2014.
Mr. Davis will hold dual titles of President and Chief Executive
Officer. Mr. Davis' compensation arrangements have not been changed
in connection with his appointment to such additional
title.
The Company will not replace the Chief Operating Officer
position and will realign these responsibilities among Mr. Davis
and the Company's other existing executive officers.
Neill P. Davis, francesca's® Chief Executive Officer, stated "We
appreciate the many contributions that Theresa made during her time
with us. Theresa played an important role in developing our
growth strategy and enhancing the francesca's® shopping
experience. She was also instrumental in building a strong
bench of operational talent within our organization. We wish her
well in her future endeavors." Ms. Backes joined francesca's®
in 2007 and has over 20 years of experience in the retail
industry.
Mr. Davis also stated "We believe this reorganization will bring
me closer to others within our management structure as we focus on
growing our business. We believe our differentiated business
model, combined with our retail growth strategy and execution of
our operational initiatives will continue to drive improvements in
long-term shareholder value."
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. Such
forward-looking statements reflect the Company's 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
direct-to-consumer 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 and our most recent Quarterly Report on Form 10-Q. We
undertake no obligation to publicly update or revise any
forward-looking statement.
About Francesca's Holdings Corporation
francesca's® is a growing specialty retailer with retail
locations designed and merchandised to feel like independently
owned, upscale boutiques providing customers a fun and
differentiated shopping experience. The merchandise assortment is a
diverse and balanced mix of apparel, jewelry, accessories and
gifts. Today francesca's® operates 451 boutiques in 45 states 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
Randi Sonenshein, Vice President,
Finance and Investor Relations
832-494-2250
Randi.Sonenshein@francescas.com
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