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Francesca's Holdings Corporation Message Board

  • madhuben5 madhuben5 Sep 4, 2013 1:48 PM Flag

    9/4/2013- Canaccord Analyst (FRAN) BUY recommendation and Price Target of $35.00.

    News Breaks
    September 4, 2013
    12:50 EDT BBBY, WSM, FRAN Francesca's plummets after results miss, guidance cut
    Shares of apparel and accessories retailer Francesca's (FRAN) are tumbling after the company reported weaker than expected quarterly results and lowered its full-year profit guidance. WHAT'S NEW: Francesca's reported second quarter profits and revenue that were below analysts' consensus estimate. Moreover, the retailer lowered its fiscal year EPS guidance, excluding certain items, to $1.10-$1.16 from its previous outlook of $1.27-$1.30 Beginning in mid-June and continuing through August, the number of customers visiting Francesca's stores dropped compared with prior weeks, the company stated. Gifts was the category that attracted the least demand, Fracesca's noted. Going forward, the retailer said that it would try to make adjustments to better exploit current trends. ANALYST REACTION: In a note to investors, Canaccord analyst Laura Champine wrote that the company's long-term potential remains intact. The company's profit margins remain strong and the stock's valuation is attractive, she wrote. Champine trimmed her target on the shares to $35 from $38 but recommends buying the stock on weakness today. PRICE ACTION: In early afternoon trading, Francesca's tumbled $6.15, or 26%, to $17.85. OTHERS TO WATCH: Two other retailers that specialize in gifts and accessories also fell, with Bed Bath & Beyond (BBBY) sliding 2.35% to $72 and Williams Sonoma (WSM) losing 0.4% to $55.70.

 
FRAN
14.01+0.14(+1.01%)Aug 22 4:00 PMEDT

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