Francesca’s Holdings Corp. (NASDAQ: FRAN) Director Richard Emmett bought 5,000 shares of FRAN common stock earlier this month. Following the purchase, Emmett, who has been a board member since 2009, now holds 10,000 shares of FRAN common stock.
Emmett, however, is not the only insider to buy FRAN shares this month. On December 19, Marie Toulantis bought 2,000 shares. John De Meritt, President and CEO of FRAN, bought 10,000 shares of the company on December 12.
On December 12, Khalid Malik, who is the company’s General Counsel, also bought 4,233 shares of FRAN common stock. Meanwhile, Neill Davis, the company’s President, bought 3,000 shares on December 12.
The insider purchases came shortly after Francesca’s Holdings reported its third-quarter financial results. FRAN reported net sales of $72 million for the third quarter, up 44% over the same period last year. The year-over-year increase was driven by a 16.7% increase in comparable boutique sales. The company’s gross profit for the quarter rose 47% to $37.9 million.
Adjusted income from operations for the quarter rose 76% to $18.1 million. The company’s adjusted operating profit margin stood at 25.10% in the third quarter.
CEO John De Meritt earlier this month said that the company delivered another quarter of strong results, demonstrating the appeal of its business model of a differentiated merchandise strategy in a boutique environment. De Meritt said that the company’s scalable, high margin merchandising model combined with productive new boutique economics provides a runway for boutique growth and gives the company confidence in its long-term growth potential.
For the fourth quarter, FRAN expects net sales to be between $82.5 million and $83.5 million.
Francesca’s Holdings shares had finished 0.20% lower at $24.92 on Friday. Year-to-date, the stock has gained 44.05%, compared to a gain of 11.51% for the S&P 500.
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