Friday, May 3, 2019

Francesca's to close at least 20 stores this year amid sales plunge

Retail Dive
Francesca’s on Friday said it will shutter at least 20 stores this year and pause remodels until the company stabilizes its financial situation. The company swung to a net loss of $21.3 million in the fourth quarter from the prior year’s net income of $3.7 million, the company also said.

The apparel retailer’s net sales fell 14% to $119.3 million from $138.5 million in the year-ago quarter, as comparable sales also fell 14%, according to a company press release.
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