Key Developments: Francesca's Holdings Corp (FRAN.O)
29.55USD
24 May 2013
$-0.96 (-3.15%)
$30.51
$30.13
$30.42
$29.38
1,609,478
1,109,967
$37.09
$21.60
Latest Key Developments (Source: Significant Developments)
Francesca's Holdings Corp Announces Secondary Offering Of 7,394,727 Shares Of Common Stock
Francesca's Holdings Corp announced a secondary offering of 7,394,727 shares of its common stock. All 7,394,727 shares are being offered by selling stockholders, which includes certain members of management of the Company and certain affiliates of CCMP Capital Advisors, LLC. The Company will not receive any proceeds from the sale of shares in this offering. Upon completion of this offering, CCMP Capital Advisors, LLC will no longer own any shares of the Company's common stock. Jefferies LLC is acting as the sole underwriter for the offering. Full Article
Francesca's Holdings Corp Issues Q1 2013 Guidance; Revenue Guidance Above Analysts' Estimates; Issues FY 2013 Guidance In Line With Analysts' Estimates
Francesca's Holdings Corp announced that for the first quarter of 2013, net sales are expected to be between $79.5 million and $80.5 million assuming a 4%-5% comparable boutique sales increase on top of the prior year increase of 15.5% and the opening of approximately 50 additional new boutiques. Earnings per diluted share (EPS) are expected to be in the range of $0.25 to $0.26 an increase of 25.0% to 30.0% over the prior year diluted earnings per share of $0.20. For fiscal 2013, net sales are expected to be in the range of $365.0 million to $370.0 million assuming a 4% to 5% comparable boutique sales increase and the opening of 80 new boutiques. Earnings per diluted share are expected to be in the range of $1.27 to $1.30 and increase of 23.3% to 26.2% over the 52-week prior year adjusted diluted earnings per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $78.4 million and EPS of $0.26 for the first quarter of 2013; revenue of $370.0 million and EPS of $1.27 for fiscal 2013. Full Article
Francesca's Holdings Corp Appoints Mark J. Vendetti As Chief Financial Officer
Francesca's Holdings Corp announced the appointment of Mark J. Vendetti as Senior Vice President and Chief Financial Officer. Mr. Vendetti will assume his position on March 4, 2013. Full Article
Francesca's Holdings Corp Raises Q4 2012 Guidance; Raises Q4 2012 Comparable Boutique Sales Guidance
Francesca's Holdings Corp announced that it has raised guidance for the fourth quarter of 2012 based on its holiday period sales and margin performance. The Company now expects sales to be between $84.5 million and $85.0 million. This outlook is based on an estimated 7% to 8% comparable boutique sales increase over the prior year quarter. Net income for the quarter is expected to be in the range of $13.0 million to $ 13.5 million or $0.29 to $0.30 per diluted share for the fourth quarter of 2012, which excluded $0.4 million after tax secondary equity offering costs, or $0.01 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $84.3 million and EPS of $0.28 for the fourth quarter of 2012. Full Article
Francesca's Holdings Corp Raises FY 2012 Guidance; Reaffirms FY 2012 Comparable Boutique Sales Guidance; Issues Q4 2012 Guidance; Comments On Q4 2012 Comparable Boutique Sales Guidance
Francesca's Holdings Corp announced that for the fourth quarter of 2012, it expects net sales to be between $82.5 million and $83.5 million assuming a mid-single digit comparable boutique sales increase and earnings per diluted share (EPS) to be in the range of $0.27 to $0.28. For fiscal 2012, net sales are expected to be in the range of $292.2-$293.2 million assuming a low double digit comparable boutique sales increase and EPS to be in the range of $0.99 to $1.00. Excluding $0.2 million after tax relocation costs of the Company's headquarters and distribution facilities, $0.4 million after tax secondary equity offering and option acceleration costs, or $0.01 per diluted share, adjusted earnings per diluted share are expected to be in the range of $1.00 to $1.01. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $83.3 million and EPS of $0.28 for the fourth quarter of 2012; revenue of $292 million and EPS of $0.98 for fiscal 2012. Full Article
Francesca's Holdings Corp Announces Management Change-Form 8-K
Francesca's Holdings Corp reported in its Form 8-K that On August 29, 2012, Mr. John De Meritt provided notice of his intention to retire from his position as Chief Executive Officer (CEO) of the Company and as a member of the Board of Directors of the Company (Board), effective as of December 31, 2012. On August 29, 2012, the Board appointed Mr. Davis to succeed Mr. De Merritt as the Chief Executive Officer (CEO) of the Company, effective as of January 1, 2013. In connection with this appointment, Mr. Davis will no longer be President of the Company, effective as of December 31, 2012. On August 29, 2012, the Board appointed Mr. Neill Davis to succeed Mr. De Meritt as Chief Executive Officer, effective as of January 1, 2013. Additionally, the Board appointed Ms. Backes to succeed Mr. Davis as the Company’s President, effective as of January 1, 2013. Full Article
Francesca's Holdings Corp Issues Q3 2012 Guidance Above Analysts' Estimates; Raises FY 2012 Guidance; Comments On Q3, FY 2012 Comparable Sales Guidance
Francesca's Holdings Corp announced that for the third quarter of 2012, it expects net sales to be between $70.5 million and $71.5 million assuming a low double digit comparable boutique sales increase and earnings per diluted share (EPS) to be in the range of $0.20 to $0.21. For fiscal 2012, it expects net sales are expected to be in the range of $290.0 million to $292.0 million assuming a low double digit comparable boutique sales increase and earnings per diluted share (EPS) to be in the range of $0.94 to $0.96. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $67 million and EPS of $0.19 for the third quarter of 2012; revenue of $282 million and EPS of $0.91 for fiscal 2012. Full Article
Francesca's Holdings Corp Reaffirms FY 2012 Revenue Guidance-Conference Call
Francesca's Holdings Corp announced that for fiscal 2012, it expects revenues to be between $280-$283 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $282 for fiscal 2012. Full Article
Francesca's Holdings Corp Issues Q2 2012 EPS Guidance, Revenue Guidance Above Estimates; Raises FY 2012 Guidance; Comments On Q2, FY 2012 Comparable Sales Guidance
Francesca's Holdings Corp announced that for the second quarter of 2012, it expects net sales to be between $69.0 million and $71.0 million, assuming a low-double-digit comparable boutique sales increase and earnings per diluted share (EPS) to be in the range of $0.22 to $0.23. For fiscal 2012, it expects net sales to be in the range of $280.0 million to $283.0 million, assuming a high-single-digit comparable boutique sales increase and earnings per diluted share (EPS) to be in the range of $0.87 to $0.89. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $68.6 million and EPS of $0.22 for the second quarter of 2012; revenue of 276.2 million and EPS of $0.84 for fiscal 2012. Full Article
Francesca's Holdings Corp Terminates Employment Of CFO Gene Morphis Following Board Investigation Of His Use Of Social Media
Francesca's Holdings Corp announced that it has terminated for cause the employment of Chief Financial Officer Gene Morphis, based on an investigation by the Board of Directors with the assistance of outside counsel, which has found that he improperly communicated Company information through social media. The investigation was launched after the Company discovered this activity on May 11, 2012. A search for a new Chief Financial Officer is underway. Cynthia Thomassee, Francesca's Controller since 2007 and Vice President of Accounting since 2010, will serve as Interim Chief Financial Officer. Full Article
Francesca's results beat on strong demand for affordable clothing
- Women's clothing retailer Francesca's Holdings Corp reported quarterly results that beat Wall Street estimates, helped by margin improvement and strong demand for its affordable clothing and jewelry.
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