Earlier Tuesday morning, Francesca's Holdings Corp FRAN announced the departure of its Chairman, CEO and President, Michael W. Barnes. The resignation is effective immediately, with personal reasons cited as the cause. The company has named the former Lead Director, Richard W. Kunes, the interim Chairman, President and CEO, while a search for a successor is already underway.
Accompanying this news, Francesca's announced some preliminary first-quarter results. The company sees comp sales increasing 2 percent year-over-year, with preliminary EPS estimated at $0.17 vs. an average analyst estimate of $0.20.
Francesca's reports results and will hold the related earnings call on June 9.
Francesca's shares were down more than 29 percent at $10.49 Tuesday morning.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
