Jim Mullin
Value, long only, long-term horizon, special situations

Francesca's: An Expanding Retailer Down Roughly 50% In The Past Year

Overview

Francesca's (NASDAQ:FRAN) is a specialty retailer that currently has 513 locations in 46 states. The company describes its target customer as an adult woman under the age of 35 with a college education and a relatively high disposable income. Francesca's sells apparel (48% of 2013 sales), jewelry (24%), accessories (17%), and gifts (11%). Francesca's strives for each of its stores to feel like an independently owned, upscale boutique. To facilitate this, stores carry a broad and shallow selection of inventory and new items are constantly introduced to stores. Francesca's also has a growing online business that allows the company reach markets where it does not have a physical presence. The company has plans to dramatically increase its...

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