Mr. Davis stated, "I am honored and very excited to be taking the reins of an incredible company which John has skillfully and thoughtfully built and set on a strong path for long-term success. As is evident from our guidance for next quarter and full year 2012, we are in a great position to fulfill the Company's financial goals. We have already secured 62 sites for our planned 75 boutique openings for the next fiscal year. We intend to continue to execute our successful four-pronged strategy of great merchandise, boutique excellence, uncompromised real estate and solid infrastructure."
Ms. Backes has been with Francesca's since 2007 serving as its Chief Operating Officer and Head of Stores. Ms. Backes has over 25 years of retail experience including as Vice President Store Operations at David's Bridal, Director of Store Operations at Banana Republic, Senior Vice President of Stores at Gymboree and various executive positions at the Target Corporation.
Conference Call Information
A conference call to discuss second quarter results is scheduled for September 4, 2012, at 4:30 p.m. ET. A live web cast of the conference call will be available in the investor relations section of the Company's website, www.francescas.com . In addition, a replay of the call will be available after the call and remain available until October 4, 2012. To access the telephone replay, listeners should dial (877) 870-5176. The access code for the replay is 9772740. A replay of the web cast will also be available shortly after the call and will remain on the website for ninety days.SEC Regulation G – Non-GAAP Information This press release includes non-GAAP adjusted net earnings and adjusted diluted earnings per share, each a non-GAAP financial measure. We have reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures in the text above. We believe that these non-GAAP financial measures not only provide our management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of our business and facilitate a meaningful evaluation of our quarterly and fiscal year 2012 diluted earnings per share and actual results on a comparable basis with our quarterly and fiscal year 2011 results. These non-GAAP measures should be considered a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.
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