HOUSTON (AP) — Women's clothing and accessories company Francesca's Holdings Corp. said Wednesday that its third-quarter net income more than doubled as the number of transactions at its boutiques climbed.
The retailer's performance beat Wall Street's expectations and it boosted its full-year earnings and revenue forecasts.
Its shares climbed more than 6 percent in premarket trading.
For the period ended Oct. 27, Francesca's earned $10.8 million, or 24 cents per share, up sharply from $4.7 million, or 11 cents per share, a year ago.
Analysts predicted earnings of 22 cents per share, according to a FactSet survey.
Revenue increased 44 percent to $72 million from $50 million. Wall Street expected $71.3 million in revenue.
Revenue at boutiques open at least a year surged 16.7 percent. This figure is a key indicator of a retailer's health because it excludes results from locations recently opened or closed.
Francesca's now expects full-year adjusted earnings in a range of $1 to $1.01 per share on revenue between $292.2 million and $293.2 million. Its prior guidance was for earnings of 96 cents to 98 cents per share on revenue of $290 million to $292 million.
Analysts predict earnings of 98 cents per share on revenue of $292.3 million.
The company foresees fourth-quarter earnings between 27 cents and 28 cents per share, with revenue in a range of $82.5 million to $83.5 million. Wall Street expects earnings of 28 cents per share on revenue of $83 million.
Its shares climbed $1.69, or 6.3 percent, to $28.50 in premarket trading. Its shares peaked at $37.09 in early September. They traded as low as $15.96 late last year.