“Less” seems to be the theme at Francesca's Holdings (FRAN), a retailer struggling to operate boutiques offering a treasure hunt experience.
Less revenue. Less boutiques. Less stagnant inventory. Less legacy executives. Less outstanding shares.
Sometimes less is simply less. Sometimes less is more. And, sometimes, “more” truly needs to be the theme.
When Less Is Simply Less
It is not news anymore when Francesca's comparable store sales for a quarter are less than the year prior. In the past 25 quarters, declining or flat CSS have been the result in 19.
Thus, the