Francescas Holdings Corporation (NASDAQ:FRAN) The Houston based company, communicated second quarter earnings before market open today.
The company disclosed income of $ 1.81 million or $ 0.61 per share, escalated 281.25 percent compared with income of $ 0.45 million or $ 0.16 per share, a year ago period.
FRAN reported second quarter Non-GAAP adjusted income of $ 2.14 million or or $ 0.20 per share, while The consensus estimates are of per share
The net sales for the second quarter decreased 6.25 percent to $ 105.97 million from $ 113.03 million in the same quarter last year, where as According to street consensus, net sales of was expected for the second quarter
Michael Prendergast, Interim CEO, stated, We are very pleased to see significant improvement in our comparable sales for the second quarter. After a long period of double digit comp sales declines we achieved considerable sequential improvement in our comp sales in each month within the quarter. Gross margin was impacted by aggressive markdowns on poor performing legacy products that we accelerated within the quarter.