Francesca's Holdings Corporation Reports Consolidated Earnings Results for the First Quarter Ended May 5, 2018; Provides Earnings Guidance for the Second Quarter Ending August 4, 2018 and Fiscal Year Ending February 2, 2019
For the second quarter ending August 4, 2018, net sales are expected to be in the range of $119 million to $122 million, assuming a 6% to 9% decrease in comparable sales compared to the prior year decrease of 3%. The company plans to open four new boutiques and close eight existing boutiques during the second quarter. Diluted earnings per share is expected to be in the range of $0.02 to $0.05. The tax rate is expected to be 24.2% and expected 34.8 million diluted share.
For the fiscal year ending February 2, 2019, net sales are expected to be in the range of $485 million to $499 million; assuming a low-single digit decrease in comparable sales compared to the prior year decrease of 11%. Diluted earnings per share are expected to be in the range of $0.53 to $0.63 compared to prior year diluted earnings per share of $0.43. This also compares to prior year adjusted diluted earnings per share of $0.52, which excludes the $3.3 million, or $0.09 per diluted share, charge related to the remeasurement of the company's deferred tax assets. Capital expenditures for fiscal year 2018 are still expected to be approximately $30 million.