Francesca’s Holdings Corp. said Monday that second-quarter same-store sales fell and announced that Laurie Hummel, the company’s chief merchandising officer, has stepped down. Same-store sales were down 3%, below the FactSet consensus for a 1% decline. Back-to-school is “off to a challenging start,” said Chief Executive Steve Lawrence, in a statement, and same-store sales have slowed further since July. Second-quarter earnings are expected to be 20 cents, ahead of the 16-cent FactSet consensus. The second-quarter earnings call will take place on September 6. A search for a new chief merchant has begun. Francesca’s shares are unchanged in Monday premarket trading, but are down nearly 56% for the year so far. The S&P 500 index is up 8.3% for 2017 to date.
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