Friday, June 14, 2019

Francesca’s Q1 loss widens; sales plunge; closing at least 30 stores this year

Chain Store Age
Francesca’s, which earlier this year announced it is exploring a “strategic financial review,” reported a net loss of $10.1 million for the quarter ended May 4, compared to prior year quarter net loss of $3.9 million. Adjusted net loss was $6.4 million.

Net sales decreased 13% to $87.1 million from $100.4 million. Same-store sales fell 13% amid a decline in traffic and conversion rates.

Francesca’s expects to close at least 30 locations this year, CFO Kelly Dilts told analysts on the company’s earnings call. The company ended the quarter with 722 stores.. . . more