The Francesca’s earnings report for the third quarter of the year is dragging FRAN stock down today.
Francesca’s (NASDAQ:FRAN) reported losses per share of 17 cents for the third quarter of the year. This is down from the company’s earnings per share of one penny from the third quarter of 2017. However, it does beat out Wall Street’s losses per share estimate of 18 cents for the quarter, but FRAN stock is still down.
Net loss reported in the Francesca’s earnings report for the third quarter of 2018 came in at $16.22 million. This is a drop from the company’s net income of $239,000 from the same time last year.
Francesca’s earnings report for the third quarter of the year also includes an operating loss of $23.06 million. The retailer of women’s clothing and accessories reported operating income of $455,000 for the third quarter of the previous year.
The Francesca’s earnings report for the third quarter of 2018 also saw it reported revenue of $95.38 million. This is worse off than the company’s revenue of $105.79 million from the same period of the year prior. Despite this, it did still come in above analysts’ revenue estimate of $95.10 million for the period, but couldn’t keep FRAN stock from falling today.
“While we saw comparable sales declines start to narrow as we moved into the fourth quarter, we recognize the need to accelerate change and improve results faster,” Steve Lawrence, President and CEO of Francesca’s, said in a statement. “Our biggest challenge and focus is to drive improved traffic trends in brick and mortar.”
FRAN stock was down 12% as of Tuesday morning and is down 76% since the start of the year.
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As of this writing, William White did not hold a position in any of the aforementioned securities.