Why Francesca's Holdings Corp. Stock Dropped Today
Shares of Francesca's Holdings Corp. (NASDAQ: FRAN) fell as much as 16% early Monday, then settled to trade down 6.5% as of 3:00 p.m. EDT after the women's clothing retailer announced worrisome preliminary results and the departure of its chief merchandising officer, Laurie Hummel.
The company didn't elaborate on Hummel's resignation, noting only that it has commenced a search for her replacement. Meanwhile, for its fiscal second quarter ended July 29, 2017, Francesca's confirmed that comparable sales fell 3%, while diluted earnings per share should arrive at roughly $0.20.
By comparison, in June Francesca's told investors to expect comparable sales in the range of negative 3% to positive 1% and earnings per share in the range of $0.13 to $0.18.
Source: Fool.com
