More c-suite changes for Francesca's

Francesca's has lost its chief financial adviser just weeks after naming a new head merchant and a new senior marketing executive.



The Texas-based company announced that CFO Mark Vendetti has resigned from the company effective Dec. 4. Cindy Thomassee, Francesca's current VP of accounting, has been appointed to the role of interim CFO and will report directly to CEO Michael W. Barnes while the company conducts a search for a CFO.



Michael W. Barnes, chairman, president, and CEO, said: "I would like to thank Mark for all of his efforts as our chief financial officer over the last two and a half years. I am grateful for Mark's time at Francesca's and I wish him continued success in his new role. We appreciate Cindy stepping into the role of Interim CFO as we conduct a search for a permanent replacement."



In addition, Francesca's announced preliminary sales results and updated earnings per share guidance for the third quarter ending Oct. 31. Net sales increased 19% to $103.4 million as compared to the third quarter last year with same-store sales up 4% for the period. The company now expects diluted earnings per share to be in the range of 15 cents to 16 cents per diluted share.



Barnes added: "We are pleased with our better than expected sales and comps in the third quarter, driven by a terrific product assortment across categories. During the quarter, we saw strong and broad consumer response to our assortments which is driving improved conversion and higher units per transaction; leading to increased average transaction values and the overall comparable sales increase. I look forward to discussing the details of our third quarter results, as well as fourth quarter and full fiscal year 2015 guidance during our third quarter conference call next month."



Francesca's operates 620 boutiques in 47 states and the District of Columbia.