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Francesca's Holdings Corporation stock price
Francesca's Holdings Corporation latest news:
BRIEF-Francesca’S Sees Q4 EPS $0.18 To $0.23
Francesca's Holdings Corp(FRAN): * FRANCESCA’S UPDATES FOURTH QUARTER 2017 GUIDANCE BASED ON HOLIDAY RESULTS. * SEES FY 2017 EARNINGS PER SHARE $0.50 TO $0.55. * SEES Q4 EARNINGS PER SHARE $0.18 TO $0.23. * SEES Q4 2018 SALES $137 MILLION TO $139 MILLION.
Francesca's shares slide 11% after hurricanes weigh on earnings
Shares of women's apparel retailer Francesca's Holdings Corp. slid 11% in premarket trade Tuesday, after the Houston-based company posted weaker-than-expected third-quarter earnings and cut its guidance after suffering from the damage caused by hurricanes Harvey and Irma. Francesca's said it had net income of $239,000, or 1 cent a share, in the quarter, down from $9.7 million, or 26 cents a share, in the year-earlier period. Sales fell 11% to $105.8 million and same-store sales slid 18%. The FactSet consensus was for EPS of 4 cents, sales of $107 million and a same-store sales decline of 17%. "Our sales results were impacted by merchandise missteps that impacted our business throughout the third quarter," chief Executive Steve Lawrence said in a statement. "Additionally, comparable sales results were impacted by an estimated 425 basis points from hurricanes Harvey and Irma." Business has improved since then and November same-store sales have improved from the third quarter, he said. "That being said, we still have a lot of work ahead of us," he said. The company is now expecting fourth-quarter sales of $145 million to $150 million, assuming a 9% to 12% decline in same-store sales. EPS is expected to range from 35 cents to 40 cents, compared with the FactSet consensus of 40 cents. Shares are down 57% in 2017, while the S&P 500 has gained 18%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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