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Francesca’s to Close Stores

An unspecified number of ‘underperforming’ stores may close

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Houston-based Francesca’s announced that in the wake of disappointing quarterly earnings, the company is evaluating its real estate portfolio with the goal of closing underperforming stores.

The news follows its first quarter earnings report with a 10-percent drop in sales and a 14-percent drop in same-store sales. Consequently, the retailer had a net loss of $16.2 million.

To grapple with slowing traffic, the company will look at closing stores that are not performing well. It also is looking to drive more traffic to already existing stores and has hired a consulting firm that will help it develop a variety of merchandising initiatives, including developing more attention-grabbing window displays, according to Chain Store Age.

 

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