Key exec departs Francesca's Holdings

Francesca's Holdings Corp. is on the hunt for a new chief merchant.



The apparel retailer announced that Laurie Hummel, executive VP and chief merchandising officer, has left the company. It did not provide a reason for her departure.



Hummel joined Francesca's in November 2015. Previously, she served two years as senior VP and divisional merchandise manager at Kohl’s. Before that, she was with State Stores.



"We have a lot of talent in our merchandising team and are confident in their ability to execute our strategy as we search for a new chief merchant," said Steve Lawrence, president and CEO, in a statement. "During this period, the team will report directly to me. We wish Laurie well in her future endeavors.”



In the same statement, Francesca's said that its same-store sales for the second quarter decreased 3% and that preliminary diluted earnings per share for the second quarter is expected to be $0.20.



“We are pleased to have exceeded our second quarter EPS guidance, driven by better than expected merchandise margin and lower than expected SG&A," Lawrence. "That said, we note that back-to-school has been off to a very challenging start and our comparable sales have further decelerated from July."



Francesca’s operates approximately 679 stores in 48 states and the District of Columbia.