Francesca's reports Q3 in-line with upside preannouncement; guides Q4 above consensus :
- Reports Q3 (Oct) earnings of $0.16 per share, in-line with the Capital IQ Consensus of $0.16; revenues rose 19.1% year/year to $103.7 mln vs the $98.85 mln Capital IQ Consensus.
- On Nov 20, co raised Q3 EPS to $0.15-0.16 from $0.12-0.15, sales $103.4 mln vs. $98.9 mln consensus and comps +4%.
- This increase was driven by the 4% increase in comparable sales as well as the opening of 81 new boutiques since the comparable prior year quarter. We opened 11 boutiques during the quarter bringing our total boutique count to 619 at the end of the third quarter. The increase in comparable sales was primarily driven by an increase in average transaction value compared to prior year. Each of our merchandise category posted double digit sales increase during the quarter, with strongest growth in apparel and accessories. DTC sales increased 12% to $3.8 million during the quarter compared to $3.4 million in the same period last year. Gross profit, as a percentage of net sales, decreased to 46.6% compared to 47.3% in the prior year quarter.
- Co issues upside guidance for Q4, sees EPS of $0.31-0.33 vs. $0.31 Capital IQ Consensus Estimate; sees Q4 revs of $127-130 mln vs. $123.50 mln Capital IQ Consensus; mid single digit comps
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