FBR Capital Reiterates Market Perform as Francesca's (FRAN) Appoints New CEO
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
FBR Capital reiterated a Market Perform rating and $14.00 price target on Francesca's Holdings (NASDAQ: FRAN) following the company's announced appointment of Steven Lawrence as president and CEO, effective October 10. Interim CEO Richard Kunes will become chairman of the board, and Mr. Lawrence will serve as a class II director. FRAN has also recently hired a new chief merchandising officer, CFO, SVP of marketing and DTC, SVP of IT, VP of real estate, and divisional merchandise manager.
Analyst Susan Anderson commented, "Yesterday, FRAN's board announced the appointment of Steven Lawrence as president and CEO, effective October 10. Mr. Lawrence most recently served as chief merchandising officer at Stage Stores and prior to that general merchandising manager at JCP. Interim CEO Richard Kunes will become chairman of the board, and Mr. Lawrence will serve as a class II director. We believe Mr. Kunes will remain highly involved in FRAN as Mr. Lawrence transitions to CEO and continues to execute on FRAN's 2020 Vision Plan. The six pillars of the plan are: (1) invigorate merchandising, (2) optimize real estate, (3) enhance the in-boutique experience, (4) expand branding and marketing, (5) develop the online customer experience, and (6) drive outlet channel business. We believe Mr. Lawrence has the right skill set in merchandising and beyond from his previous experience (i.e., store operations, cost programs, etc.) that will prove valuable to FRAN."
Shares of Francesca\'s Holdings closed at $15.17 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Drexel Hamilton Reiterates Buy on IBM (IBM) Following 4Q Report
- Hilliard Lyons Upgrades Community Trust Bancorp (CTBI) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Management Changes
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!