Francesca’s Q3 net earnings up 78%; 80 stores on tap for fiscal 2013
Houston -- Francesca's Holdings Corp. reported that net earnings in the fourth quarter rose 78% to $14.9 from $8.4 million in the same quarter last year. The company also said it plans to open 80 stores in fiscal year 2013.
Net sales in the quarter ended February 2, 2013, rose 40.6% to $86.7 million, compared with net sales of $61.7 million during the same period in fiscal 2011. Same-stores sales in the quarter increased 9.2%, driven by increased transactions and strong growth in its clothing and jewelry categories.
"We are well positioned with the teams and capabilities to continue expansion of our boutique base, increase boutique productivity and further develop our direct-to-customer presence,” said CEO Neil Davis. “Looking ahead, we continue our growth trajectory with 80 openings for fiscal 2013, reaching the milestone of over 400 locations by the end of the first quarter."
For the full year, net sales increased 45.2% to $296.4 million. Same-store sales rose 14.9%.