Francesca's (FRAN) reports comparable-store sales fell 7% in FQ1.
Apparel merchandise sales increased by 12% Y/Y to $44.7M, led by strength in fashion tops. Jewelry sales were down 3% to $18.3M.
Gross profit rate -340 bps to 49.0% due in part to a deleveraging of occupancy costs and elevated markdowns.
Francesca's opened 62 new boutiques during the quarter.