Francesca’s Stock: FRAN Jumps 44% on App News

Francesca’s (NASDAQ:FRAN) stock is heading higher on Thursday following news of its plan to launch a mobile app.

Francesca's Stock: FRAN Jumps 44% on App News

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According to a Francesca’s news release, the company is working with Poq on the development of the app. This will have it launching the new app on iOS this summer and on Android later this year. The company says that apps will be ready in time for Black Friday deals.

Francesca’s doesn’t reveal much else about the mobile app. However, it does say it will have an “elevated design, improved navigation and increased ease of use.” It also points out that digital is becoming a preferred method for its shoppers, which is why it’s developing a mobile app.

Here’s what Andrew Clarke, CEO of Francesca’s, has to say about the news.

“During the temporary store closure period resulting from the COVID-19 pandemic, our ecommerce business surged. Given the accelerating shift to online shopping, we are excited to be stepping up our digital transformation strategy with the launch of this mobile app. In addition to enhancing her online shopping experience, the app will provide valuable insights into how customers interact with our brand, enabling us to interact with her in a more relevant and impactful way.”

While the novel coronavirus is one reason for Francesca’s to develop an app, it isn’t the only one. Many physical retailers have been struggling to compete as customers turn to online shopping for their needs. That means Francesca’s needs to make a stronger push toward e-commerce as well, even if it’s taking its time getting there.

FRAN stock was up 43.8% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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