Francesca's profit surges in Q3 with 76 added stores
Houston -- Francesca's Holdings Corp. reported Wednesday net income of $11 million, compared with $6.1 million in the year-ago period. Sales surged 44% to $72 million, driven by a 16.7% increase in same-store sales as well as 76 new boutique openings since the end of the third quarter last year.
"We delivered another quarter of strong results, demonstrating the appeal of our business model of a differentiated merchandise strategy in a boutique environment,” said John De Meritt, CEO. “Our scalable, high-margin merchandising model combined with productive new boutique economics provides a runway for boutique growth and gives us confidence in Francesca's long-term growth potential."