Francesca's reports Q1 FY20 sales down to $44 mn

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.

 

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.#

Company also stated that the decrease in sales was partially offset by strong performance in e-commerce as all of the company’s efforts subsequent to March 25, 2020 were focused on driving e-commerce sales during the temporary boutique closure period. 

 

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.#

“We are very pleased with the continued strong momentum in our e-commerce business and heartened by the sales results in the boutiques we have reopened,” Andrew Clarke, president and CEO at Francesca’s said in a press release.

 

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.#

Selling, general and administrative expenses for the quarter were $24.9 million ($39.9 million). 

 

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.#

Sales of Apparel during the quarter dropped 47 per cent to $22.0 million ($41.8 million). Jewellery sales fell 55 per cent to $10.6 million ($23.8 million). Sales of Accessories were down 51 per cent to $6.5 million ($13.6 million). 

 

Francesca's Holding Corporation, a US-based specialty retailer, has reported 50 per cent sales decline to $43.7 million in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $87.1 million in same period last year. Gross loss for the quarter were $2.8 million compared to gross profit of $30.3 million in same period last year.#

“As we begin crafting the future for Francesca’s, there is also a focus on enhancing our omni channel capabilities, specifically through re-platforming our e-commerce site to support greater scale. As we combine our customer centric approach with omni channel capabilities we see tremendous opportunity to gain market share and get us back on track to deliver profitable growth,” Clarke said.