Francesca's Holdings Corporation (NASDAQ:FRAN) Q1 2015 Earnings Conference Call - Final Transcript
Jun 10, 2015 • 08:30 am ET
Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Francesca's Holding Corp First Quarter 2015 Earnings Conference Call. As a reminder, today's conference is being recorded. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session and instructions will be provided at that time for you to queue up for questions.
I would now like to turn the conference over to Mr. Mark Vendetti, Chief Financial Officer. Please go ahead, sir.
Thank you and good morning, everyone. Welcome to Francesca's first quarter 2015 fiscal conference call. Earlier this morning, we issued a press release outlining the financial and operating results for the first quarter ending May 2, 2015. The following discussion may include forward-looking statements. Please note actual results may differ materially from those statements. Additional information concerning factors that could cause actual results to differ materially from projected results are contained in the company's filings with the Securities and Exchange Commission.
We will begin today's call with comments from our Chairman, Chief Executive Officer and President, Mike Barnes. Following Mike's remarks, I will provide financial highlights of the first quarter as well as details of our financial outlook for the second quarter and fiscal year 2015. Following my remarks, I will turn the call back over to Mike for closing remarks. Then, we will be pleased to address your questions. As usual, the text of today's conference call along with detailed management commentary will be posted to our corporate website.
I will now turn the call over to Mike.
Thanks, Mark, and good morning, everyone. Welcome to our first quarter earnings call. I'll start the call by discussing our first quarter results and finish with where we plan to focus for the remainder of the year. After I'm done, I'll turn the call back over to Mark who will discuss our first quarter results in greater detail with you and provide our guidance for the rest of 2015.
So, to begin, we are pleased to deliver first quarter results within our guidance range. We finished the quarter with net sales of $95 million compared to guidance of $93 million to $96 million. This represents the total sales increase of 11% with a comparable sales decrease of 2% versus our guidance of low single-digit decrease. Our diluted earnings per share for the quarter was $0.17 versus our guidance of $0.15 to $0.18.
Our combined non-apparel sales performed strongly with an increase of 15% compared to last year. We were particularly pleased with the improvement in our jewelry business with total sales growth of 20% in the first quarter, reflecting improved sequential performance from the 13% growth in the fourth quarter of 2014. Earrings continue to play a major role trim-wise and led with strong double-digit growth while other categories within the department were also strong as a whole.
The gift department, which has been our most consistent positive performer over the past year continued by growing sales at