UPDATE: Francesca's Posts Drop In Q4 Profit, Issues Weak Q1 Outlook
Francesca's Holdings (NASDAQ: FRAN) reported a 29% drop in its fiscal fourth-quarter earnings.
Francesca's expects current-quarter earnings of $0.20 to $0.24 per share on sales of $85 million and $90 million. However, analysts projected earnings of $0.28 per share on sales of $92 million.
Francesca's posted its quarterly profit of $10.6 million, or $0.25 per share, versus a year-ago profit of $14.9 million, or $0.33 per share. Excluding special items, its adjusted earnings came in at $0.27 per share.
Its revenue rose 6.3% to $92.1 million. The company had projected a profit of $0.27 to $0.29 per share on sales of $93 million to $95 million.
Its gross margin shrank to 50.6% from 53.4%, while comparable-store sales slipped 6%.
Francesca's shares fell 1.82% to $20.48 in pre-market trading.
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