Current Report Filing (8-k)
January 09 2015 - 4:30PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported):
January 8, 2015
FRANCESCA’S HOLDINGS CORPORATION
(Exact Name of Registrant as Specified in
Its Charter)
|
|
Delaware |
|
|
001-35239 |
|
(State or Other Jurisdiction of Incorporation) |
|
20-8874704 |
(Commission File Number) |
|
|
|
(I.R.S. Employer Identification
No.) |
|
|
|
|
|
8760 Clay Road,
Houston, Texas |
|
|
|
77080 |
(Address of Principal Executive
Offices) |
|
|
|
(Zip Code) |
(713) 864-1358
(Registrant’s Telephone Number, Including
Area Code)
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure.
On January 8, 2015,
Francesca’s Holdings Corporation (the “Company”) issued a press release announcing an update to its guidance
for the fourth quarter ending January 31, 2015. A copy of the press release is furnished as Exhibit 99.1 to this report. This information
shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not
incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general
incorporation language in such filing.
Item 9.01. Financial Statements
and Exhibits.
| 99.1 | Press Release issued by Francesca’s Holdings Corporation
on January 8, 2015. |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
FRANCESCA’S HOLDINGS CORPORATION |
|
|
|
|
|
|
|
|
|
Date: January 9, 2015 |
By: |
/s/ Kal Malik |
|
|
|
Kal Malik |
|
|
|
Chief Administrative Officer |
|
EXHIBIT
INDEX
Exhibit
No.
|
|
Description |
|
|
|
99.1 |
|
Press Release issued by Francesca’s Holdings Corporation on January 8, 2015. |
|
|
|
Exhibit 99.1
francesca’s®
Raises Fourth Quarter 2014 Guidance based on Holiday Results
HOUSTON, Jan. 8, 2015 (GLOBE NEWSWIRE) -- Francesca's
Holdings Corporation (Nasdaq:FRAN) today announced that the Company has updated its guidance for the fourth quarter ending January
31, 2015 based on its holiday period sales performance and current expectations for the remainder of the quarter.
The Company now expects sales for the fourth quarter ending January
31, 2015 to be between $103.0 million and $105.0 million, including a low-single-digit decrease in comparable
sales. This compares to previous guidance provided on December 10, 2014 of sales between $96.0 million and $102.0
million, including a decrease of 5% to 10% in comparable sales. Adjusted earnings per diluted share for the quarter, excluding
costs related to our CEO transition (projected to be approximately $0.03), are expected to be in the range of $0.17 to $0.20 for
the fourth quarter ending January 31, 2015, compared to the Company's previous guidance of $0.13 to $0.19.
Mike Barnes, francesca's® Chairman, President,
and Chief Executive Officer commented, "We are pleased with our sales results through the first two months of the quarter.
Our customers responded favorably to our broad assortment of seasonal and holiday product offerings, particularly in our giftable
categories. For the remainder of the quarter, we plan to diligently move through excess inventory and clearance product, particularly
in apparel. As we stated in our last conference call, we expect these actions to result in a gross margin decline of 475 to 525
basis points during the quarter as compared to last year. We believe this will enable us to enter FY 2015 in a better position
with cleaner inventory and an appropriate amount of newness in our boutiques."
The Company management plans to attend the 17th Annual ICR
XChange Conference to be held at the JW Marriott Orlando Grande Lakes in Orlando, Florida on Monday,
January 12, 2015 and Tuesday, January 13, 2015.
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 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. 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 February 1, 2014 filed with the Securities and Exchange Commission on March
28, 2014 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. Financial schedules are attached to this release.
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.
SEC Regulation G — Non-GAAP Information
This press release includes non-GAAP adjusted earnings per diluted
share, a non-GAAP financial measure. We have not reconciled this non-GAAP financial measure with the most directly comparable GAAP
financial measure as at the time of this press release the value of the adjustment to the GAAP financial measure is not yet available
without unreasonable efforts. We believe that this non-GAAP financial measure not only provides our management with comparable
financial data for internal financial analysis but also provides meaningful supplemental information to investors. Specifically,
this non-GAAP financial measure allows investors to better understand the performance of our business and facilitate a meaningful
evaluation of our diluted earnings per share guidance on a comparable basis with our 2013 results. This non-GAAP measure should
be considered a supplement to, and not as a substitute for, or superior to, a financial measure calculated in accordance with GAAP.
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 538 boutiques in 47 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. |
Company |
Jean Fontana |
Mark Vendetti |
646-277-1214 |
832-494-2315 |
|
Mark.Vendetti@francescas.com |
Francescas (NASDAQ:FRAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Francescas (NASDAQ:FRAN)
Historical Stock Chart
From Jul 2023 to Jul 2024