Francesca's Q2 Profit Rises - Quick Facts

(RTTNews) - Apparel retailer Francesca's Holdings Corp.'s (FRAN) second-quarter 2013 net income grew to $14.62 million or $0.33 per share, from $12.7 million, or $0.28 per share, last year. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.35 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the thirteen weeks went up 17% year-on-year to $89.6 million, from $76.37 million, driven by 79 new boutique openings since the prior year quarter, with the strongest performance in jewelry, outpacing increases in accessories and apparel, and a decline in gifts. Analysts estimated revenues of $94.49 million for the quarter. Including direct-to-consumer sales, comparable sales slipped 1%, as compared with a 21% growth in the prior-year quarter.

For the third quarter ending November 2, 2013, net sales are expected to be between $78.0 million and $80.0 million assuming a -5% to -2% decrease in comparable sales including direct-to-consumer, compared to the prior year comparable sales increase of 17% and the opening of 11 additional new boutiques, as compared with two boutiques opened in the third quarter of last year. Earnings per share are expected to be in the range of $0.19 to $0.21.

For the full year ending February 1, 2014, net sales are now expected to be in the range of $343.0 million to $349.5 million assuming a -2% decrease to flat comparable sales including direct-to-consumer, compared to the prior year comparable sales increase of 16%, and the opening of 87 additional boutiques, as compared to 77 additional boutiques in fiscal 2012. Adjusted earnings per share are likely to be in the range of $1.10 to $1.16, excluding $0.6 million net of tax charge related to a secondary equity offering.

In addition, the board has authorized a $100 million share repurchase program.