francesca’s® Announces Departure of Chief Financial Officer
July 01 2019 - 4:01PM
Francesca’s Holdings Corporation (Nasdaq: FRAN) today announced
that Kelly Dilts, Executive Vice President and Chief Financial
Officer, has informed the Company of her plans to resign from her
position effective July 19, 2019 to pursue another opportunity. The
Company has named Cindy Thomassee, currently serving as Senior Vice
President and Chief Accounting Officer, to assume the role of
Executive Vice President and Chief Financial Officer. Ms. Thomassee
will report directly to the Interim Chief Executive Officer,
Michael Prendergast. Ms. Dilts will work closely with Ms.
Thomassee to ensure a smooth transition.
Mr. Prendergast stated, “We want to thank Kelly for her
contributions during her tenure at francesca’s and wish her much
success in her future endeavors."
Michael Prendergast continued, “Cindy has been a valued member
of francesca’s executive management team for many years. We
look forward to her continued financial leadership as we partner
together to execute the strategic turnaround plan and return the
company to longer-term positive sales, cash flow and operating
income performance.”
Cindy is a seasoned retail executive who joined the Company in
December 2007 after serving as the Controller at LRG Furniture,
LLC, a retail subsidiary of Bassett Furniture Industries, for over
8 years. She also previously served as the Company’s Interim
Chief Financial Officer from May 2012 to March 2013 and from
December 2015 to April 2016. Ms. Thomassee is a Certified
Public Accountant, licensed in the State of Texas.
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 are expected. These risks and
uncertainties include, but are not limited to, the following: the
Company’s ability to attain the necessary stock price levels to
regain compliance with Nasdaq’s continued listing standards or,
even if achieved, to continue to satisfy Nasdaq’s qualitative and
quantitative continued listing standards in the future; the risk
that our exploration of strategic or financial alternatives may not
result in any transaction or alternative that enhances value, the
risk that we may not be able to successfully execute our turnaround
plan; the risk that we may not be able to successfully integrate
our Interim Chief Executive Officer and attract and integrate a new
Chief Executive Officer; the risk that we cannot anticipate,
identify and respond quickly to changing fashion trends and
customer preferences or changes in consumer environment, including
changing expectations of service and experience in boutiques and
online, and evolve our business model; our ability to attract a
sufficient number of customers to our boutiques or sell sufficient
quantities of our merchandise through our ecommerce website; our
ability to successfully open, close, refresh, and operate our
boutiques each year; our ability to efficiently source and
distribute merchandise quantities necessary to support our growth;
and the impact of potential tariff increases or new
tariffs. For additional information regarding these and other
risks and uncertainties that could cause actual results to differ
materially from those contained in the Company’s forward-looking
statements, please refer to "Risk Factors" in the Company’s Annual
Report on Form 10-K for the year ended February 3,
2019 filed with the Securities and Exchange
Commission (“SEC”) on May 3, 2019 and any risk
factors contained in subsequent quarterly and annual reports it
files with the SEC. The Company undertakes no obligation to
publicly update or revise any forward-looking statement.
About Francesca's Holdings Corporation
francesca's® is a 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. As of May 4, 2019, francesca's® operated approximately 722
boutiques in 47 states throughout the United 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
CompanyKate Venturina 832-494-2233ir@francescas.com
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