- #1 on Dec. 2
Francesca's beats by $0.05, beats on revs; guides Q4 in-line :
- Reports Q3 (Oct) earnings of $0.23 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.18; revenues rose 15.2% year/year to $119.5 mln vs the $116.28 mln Capital IQ Consensus. This was due to a 7% increase in comparable sales (vs. mid-single comp guidance) primarily driven by an increase in the number of transactions both at boutiques and on-line as well as the addition of 50 net new boutiques since the prior year quarter. The Company opened 18 boutiques and closed one boutique during the quarter, bringing the total boutique count to 669 at the end of the quarter. Ecommerce comparable sales increased 47% to $5.7 million driven by increased website traffic and conversion rate.
- Gross profit, as a percent of net sales, increased to 48.2% from 46.6% in the prior year quarter. This increase was attributable to 40 basis points of higher merchandise margin and 120 basis points of occupancy costs leverage. The increase in merchandise margin was mostly due to favorable mix change and lower markdowns compared to the prior year quarter.
- Co issues in-line guidance for Q4, sees EPS of $0.36-0.40, excluding non-recurring items, vs. $0.38 Capital IQ Consensus Estimate; sees Q4 revs of $143-148 mln vs. $144.26 mln Capital IQ Consensus; low-single digit decline to low single digit increase in comps.
No comments:
Post a Comment