This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Francesca's Reports First Fiscal Quarter 2013 Financial Results

Gross profit, as a percentage of net sales, was 52.4% compared to 53.1% in the prior year quarter, resulting from lower merchandise margins due to higher levels of promotions compared to the prior year quarter.

Selling, general and administrative (SG&A) expenses excluding $0.6 million in charges related to a secondary equity offering increased 31% to $22.8 million or 28.8% of net sales compared to the prior year quarter, excluding $0.5 million in charges related to a secondary equity offering, of $17.4 million or 28.4% of sales. The increase was principally due to operating additional boutiques and infrastructure investments to support the larger boutique base and direct-to-consumer sales growth.

Adjusted income from operations for the quarter increased 23% to $18.6 million or 23.5% of net sales compared to $15.1 million or 24.7% of net sales in the prior year quarter.   

BALANCE SHEET SUMMARY

Total cash and cash equivalents at quarter end were $33.8 million compared to $8.2 million at the prior year quarter end, and $29.9 million at the end of fiscal 2012. The Company had no long-term debt at the end of the quarter compared to $12.0M at the end of the prior year quarter.

Total inventories, excluding reserves, increased 28% over the prior year quarter and was in-line with net sales growth. 

SECOND FISCAL QUARTER AND FULL FISCAL YEAR 2013 GUIDANCE

For the second quarter ending August 3, 2013, net sales are expected to be between $94.5 million and $95.5 million assuming a 1% to 2% increase in comparable sales including direct-to-consumer on top of the prior year comparable sales increase of 21% and the opening of approximately 21 additional new boutiques. Earnings per diluted share are expected to be in the range of $0.35 to $0.36, an increase of 21% to 24% over the prior year adjusted diluted earnings per share of $0.29, excluding $0.2 million net of tax related to stock option acceleration.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs