UPDATE: Francesca's Posts Higher Q3 Profit, Lifts Forecast
Francesca's Holdings (NASDAQ: FRAN) reported a rise in its fiscal third-quarter earnings and lifted its forecast for the year.
Francesca's now expects full-year earnings of $1 to $1.01 per share on net sales of $292.2 million to $293.2 million. The company in September expected earnings of $0.96 to $0.98 per share on revenue of $290 million to $292 million.
For the current quarter, Francesca's expects earnings of $0.27 to $0.28 per share on net sales of $82.5 million to $83.5 million. However, analysts were expecting a profit of $0.28 per share on revenue of $83 million.
Francesca's quarterly profit surged to $10.8 million, or $0.24 per share, from $4.7 million, or $0.11 per share, in the year-ago period.
Its revenue climbed 44% to $72 million. The company in September expected earnings of $0.21 to $0.22 per share on revenue of $70.5 million to $71.5 million.
Its gross margin increased to 52.6% from 51.7%.
Francesca's shares gained 9.44% to $29.34 in pre-market trading.
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