Retailer Francesca's profit drops 21 pct
June 10 (Reuters) - Women's apparel retailer Francesca's Holdings Corp reported a 21 percent drop in first-quarter profit as sales fell at its boutique due to a harsh winter and the company offered discounts to clear off an inventory pile-up.
The company said net income fell to $8.6 million, or 20 cents per share, in the quarter ended May 3, from $10.9 million, or 24 cents per share.
Revenue rose 8 percent to $85.4 million, while comparable sales fell 7 percent. (Reporting By Sruthi Ramakrishnan in Bangalore,; Editing by Don Sebastian)
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt
- Oil price declines have small-cap shale investors scrambling
- Japan shares soar, yen skids after BOJ stuns with more easing steps
- China says nets 180 graft suspects in overseas manhunt