Francesca's Stock Rallies After Profit Outlook Raised
Shares of Francesca's Holdings Corp rallied 3.2% in light premarket trade Monday, after the apparel and accessories retailer raised its fiscal fourth-quarter earnings outlook and revised its sales outlook. The company now expects earnings per share for the quarter ending January of 35 cents to 37 cents, compared with a previous outlook of 33 cents to 37 cents. The sales outlook was revised to $144 million to $146 million from $143 million to $148 million, while the same-store sales outlook was changed to a decrease of 1% to a 1% increase from a low single-digit percentage decrease to a low single-digit increase. "We are pleased with our solid holiday performance which came on top of an 11% comparable sales increase in fourth quarter last year," said Chief Executive Steve Lawrence. The stock has climbed 5.6% over the past three months through Friday, while the SPDR S&P Retail ETF has lost 0.3% and the S&P 500 has gained 5.7%.
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