News

Francesca’s Q2 net disappoints; on track for 87 new stores

BY Dan Berthiaume

Houston — Francesca’s Holdings Corp. reported second-quarter results that missed analysts’ estimates, hurt by lower traffic. The company expects the weakness to continue.

Net income for the period ended Aug. 3 grew about 15%, from $12.7 million to $14.6 million.

Net sales rose 17% to $89.6 million. Same-store sales, including direct-to-consumer sales, decreased 1%.

Francesca’s credited the opening of 79 new stores since second quarter 2012 as the primary driver of higher net sales. Performance was strongest in jewelry, outpacing increases in accessories and apparel, and a decline in gifts. The retailer still expected better results.

Neill P. Davis, CEO of Francesca’s, said the chain’s second quarter sales performance was softer than anticipated, but that it able to maintain strong profitability with operating income margins only modestly below the prior year levels.

“Our performance in the quarter reflects the anniversary of very strong rates of growth in the prior year; lower levels of customer traffic most evident in the later part of the second quarter and the lack of a dominant apparel fashion trend," David said.

Looking ahead, Francesca’s expects to open 11 new stores during the third quarter of this year and a total of 87 new stores during fiscal 2013.

During the third quarter, the retailer expects net sales between $78 million and $80 million, and net sales between $343 million and $349.5 million during the fiscal year. Same-store sales are expected to decline in the third quarter and range from declining the flat during the fiscal year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

RetailMeNot: Online, mobile coupon use explodes

BY Dan Berthiaume

Austin, Texas – U.S. consumers are dramatically increasing their usage of online and mobile coupons. According to the latest Shoppers Trend Report from RetailMeNot and The Omnibus Company, while printable coupons remain the most widely used type of coupon (60%), online coupon usage has nearly doubled (29% compared to 16% three years ago) and mobile coupon usage has nearly tripled in the past three years (10% compared to 4% three years ago).

Ninety-two percent of consumers use some type of coupon. Other notable findings include:

  • It is much more common for those 35 and older to still rely mostly on printable coupons than it is for 18- to 34-year-olds (70% compared to 44%).
  • More than one-in-three (35%) parents use online coupons most often, compared with 26% of those without children.
  • Eighteen- to 34-year-olds are three-times as likely as those ages 35 and older to use mobile coupons most often (18% compared to 6%).
  • The overwhelming majority of respondents (93%) are very likely to use coupons or discounts they receive via email.
  • Women are more likely to use coupons or discounts received via email than men (95% compared to 89%).
  • Coupon users are most interested in deals that offer a specific dollar amount off of their purchase (31%) and are least interested in coupons that offer free shipping (9%).

keyboard_arrow_downCOMMENTS

Leave a Reply

K.Welch says:
Nov-28-2013 07:03 am

Online couponing is the best shopping deals that most shoppers are into lately. Only one percent of those surveyed said they would walk out on a date if he or she tried to use a coupon. Another three present said they would speak up and express their disapproval, but would remain on the date. Twelve percent said they would keep quiet and finish the evening, but that it would be a last date with the coupon user. People end up losing control of payday loans when obsessed like that.

K.Welch says:
Nov-28-2013 07:03 am

Online couponing is the best shopping deals that most shoppers are into lately. Only one percent of those surveyed said they would walk out on a date if he or she tried to use a coupon. Another three present said they would speak up and express their disapproval, but would remain on the date. Twelve percent said they would keep quiet and finish the evening, but that it would be a last date with the coupon user. People end up losing control of payday loans when obsessed like that.

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Law firm investigates claims against Genesco

BY Dan Berthiaume

Nashville, Tenn. – Harwood Feffer LLP is investigating potential claims against the board of directors of Genesco Inc., concerning whether the board has breached its fiduciary duties to shareholders. On August 29, 2013, Genesco disclosed that it may be forced to restate certain financial statements due to potential violations of generally accepted accounting principles.

The investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the company, and/or committed abuses of control in connection with the foregoing. Shareholders can contact Harwood Feffer for more information.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...