Francesca’s on Friday said it will shutter at least 20 stores this year and pause remodels until the company stabilizes its financial situation. The company swung to a net loss of $21.3 million in the fourth quarter from the prior year’s net income of $3.7 million, the company also said.
The apparel retailer’s net sales fell 14% to $119.3 million from $138.5 million in the year-ago quarter, as comparable sales also fell 14%, according to a company press release.
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