Francesca’s news for Friday concerning its most recent earnings report has FRAN stock down.
Francesca’s (NASDAQ:FRAN) reported losses per share of 29 cents for its fiscal first quarter of 2019. This has its losses per share for the quarter being wider than the 11 cents reported in the same period of the year prior.
The Francesca’s news release for its fiscal first of the year also saw the company bringing in a net loss of $10.15 million. This is a larger net loss than the $3.89 million reported in its fiscal first quarter for 2018.
Operating loss reported in the Francesca’s earnings report for its fiscal first quarter of 2019 comes in at $9.67 million. That’s a drop from the retail company’s operating loss of $4.52 million reported during the same time last year.
Francesca’s earnings report for its fiscal first quarter of the year includes revenue of $87.13 million. Unfortunately for FRAN stock, this is down from the company’s revenue of $100.41 million reported in its fiscal first quarter of the previous year.
Francesca’s says that it will not be providing an outlook for the rest of fiscal 2019 at this time. The reason given by the company is that it isn’t putting out guidance while it executes its turnaround plan.
Another bit of Francesca’s news that is worth pointing out are its store closure plans. The company is preparing to close down at least 30 locations during the year.
FRAN stock was down 6% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.