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Good Saturday selling out skus ended last 24 hours with 2265 for a burn through of 172 skus.
Clothing 660
Jewelry 790
Accessories 323
Beauty 156
Gifts 225
Shoes 111
Weekend going very well indeed thus far burned through 366 skus in 2 days, knocking that old inventory out 24/7 at this rate the entire lot should be gone by the CEO's target of the end of July.
They are literally blasting out online promotions/emails everyday.
https://milled.com/francescascollectionsboutique
Learn something new everyday following this stuff, it's national pink day, I didn't even know they had one, LOL.
https://www.facebook.com/pg/francescascollectionsboutique/posts/?ref=page_internal
They added a 3 clothing items to the liqidation/legacy today total to start 2265.
The hedge fund putting out their "articles/blogs" are really pumping this weekend all from non existent publications non existent writers, heck one of them had a famous financial writer that died in 2018 supposedly writing it, he was killed in Annapolis Md in a workplace shooting, these people have no scruples.
They are all same format same misrepresentations the same ones they were putting out 1-2 a day now putting out 5-7 a day since Fridays heavy buying. Someones worried very worried, things aren't quite going the way they thought they would.
Just from the last 24 hours....
https://investtribune.com/francescas-holdings-corp-nasdaqfran-institutional-investors-sentiment-index-worsens-in-q1-2019/
https://www.americanbankingnews.com/2019/06/20/short-interest-in-francescas-holdings-corp-nasdaqfran-grows-by-13-3.html
https://altcoinmercury.com/francescas-holdings-corp-institutional-investor-sentiment-worsened-in-q1-2019/
https://slatersentinel.com/news/2019/06/22/short-interest-in-francescas-holdings-corp-nasdaqfran-increases-by-13-3.html
https://rivertonroll.com/news/2019/06/22/francescas-holdings-corp-nasdaqfran-short-interest-up-13-3-in-may.html
https://mayfieldrecorder.com/2019/06/22/francescas-holdings-corp-nasdaqfran-shares-sold-by-rhumbline-advisers.html
https://findanews.com/2019/06/21/why-francescas-holdings-corporation-fran-stock-price-dropped-up-to-3-85-today/
https://pressrecorder.com/2019/06/21/francescas-holdings-corporation-fran-stock-is-scorching-hot-today-with-3-65-decline/
http://www.stocksequity.com/active-stocks/morning-beta-factor-valuation-francescas-holdings-corporation-nasdaqfran-solitario-zinc-corp-nysexpl/
Two more insider buys reported Friday, seems everyday they are lining up and throwing in, good to see.
Peace out.
Had an excellent day burning through old skus of the 2-3 year old legacy inventory as the CEO refers to the warehouse of old stock that has been turning into cash these last 6 weeks 24/7 never stopping as the website just keeps going and going like an energizer bunny.
Had the second best 24 hour burn through period we had 2448 to start off at 9AM Friday and ended 9AM this morning Saturday at 2254 burning through 194 which as I said is the second best sell out rate in the last 6 weeks.
We haven't a clue as to total sale of the legacy items from these numbers but I would venture to say its north of $250K on a day like that.
Clothing 651
Jewelry 801
Accessories 315
Beauty 155
Gifts 226
Shoes 106
They added this morning just after 9AM bringing the total of liquidation skus back to 2437
Clothing 758
Jewelry 812
Accessories 343
Beauty 161
Gifts 243
Shoes 120
They usually don't add much on Sunday-Wednesday with the majority being added Thursday-Saturday I am sure they have to shoot photos of the skus in clothing and accessories especially first and foremost because the website/online was virtually ignored from 2015-2018 thus the large inventory build they had over those three years, takes a while to build up $15 million + in old merchandise, that being just the cost not the sell through prices of the goods.
Been over that before but jewelry the highest seller still burns sku's slower as there are more than likely tens of thousands of items for some skus and most having many thousands which sounds like a lot but it isn't 700+ stores just 3 items in a particular sku per store left over is is 2000+, gives one an idea just how much old inventory that is being sold when these skus do hit their sell out point.
And on the clearance/liquidation numbers most is still being sold at a profit except the last of certain skus shoes especially, or that last 5 pairs of some odd size or color of something, not the margins that you want in retail but selling old stock at a profit is a good thing. Clothing/Accessories/Beauty I imagine margin average is 25-30% Gift/Shoes a wash pretty much at the end of the day maybe a 5-10% profit and jewelry as a rule is the highest mark up in retail even when sold at half price is still a 100-200% profit which is great.
The liquidation will bring the margin numbers down slightly we already saw that in Q1 when the store closings and old stock liquidations happened but in the case of the warehouse goods, having $15 million dollars tied up for 2-3 years in merchandise just sitting being turned into $20 mil+ is a good thing a very good thing. Old inventory and dead stores is a killer for retail.
Luckily they have been closing dead money draining stores the last 6 months and this year they should close another 22 having closed 8 already in 2019. Shorts and hedge funds push these articles "Francesca's to close 30 stores this year" like its a bad thing, it is the exact opposite and they know that. Retail businesses no matter the retail sector fast food, sports bars grocery stores always open and close businesses its what you do. You open in new hot spots and close spots that have died due to local economic factors etc.
That is how you properly run a company, the previous CEO and the now exiting Chairman thought open stores and more stores and more stores damn the numbers keep opening, revenue must increase that's how you do it, BS that's how you run a business into the ground. Over expansion is a killer if you don't catch it in time, luckily Francesca's did. Now its all good Francesca;s is firing on all cylinders and clocking that money, we already won the game we are just waiting on the final score kick back and relax and don't listen to the noise.
It is all about the market cap, the market cap the market cap. By end of July CEO wanted all the warehouse goods gone, dead stores closed and the new Francesca's firing on all cylinders and that is being accomplished in a big way. Everyday 24/7 that liquidation/legacy/clearance register is is ringing and skus are selling out and all that cash is rolling in.
Anyone who thinks that a company with cash pouring from old stock that was paid for 2-3 years ago in with virtually no debt had $17.5 million and rising as of May the 5th thinks that because of RSI with a twist, or a VWAP burrito and hash browns or an Ichimoku miso soup cloud or RS quarter pounder with cheese makes a company that is worth near $2 in cash and goods is somehow a worth .30-.40.50 or even $1 a share needs to put down that needle and seek help and intervention is needed.
Its all about market cap whether it has 30 million shares 10 million shares 200 million shares what is the market cap and how much cash and goods do they have plain and simple end of story take all that algo smalgo BS and tell someone who cares. I am Warren Buffet, Hetty Green kind of guy like Buffet who could give 2 shits what an algo, Ichimoku, VWAP pity pat give your dog a bone, its all about the dollars and cents and making money, 600 stores 700 stores doesn't matter cash/goods profit, Francesca's last CEO and Chairman lost sight of the last one, interim CEO put them back on track and then having that $15 mil in old stock in the warehouse was a good thing as it was able to be turned into cash.
Short equity again raised when FINRA had the numbers reported to them May 30th they were up another 1.4 million shares to near 11.5 million since then they shorted bare minimum another 1.5 million shares to push it down this far in June maybe 2 million, now at the shareholders meeting we will learn all the guidance, the cash, the numbers the everything and then talk to me about your chart BS.
Who has been buying stock is what I want to know a MM has been collecting shares for someone for 4 weeks now, at the end of every day a buy goes through at exactly 4:00 that is a MM that has been hired by someone, I think the company but that is my own opinion to acquire shares all day post the shares at the end of the day. I know haven't been the only one seeing it, and yesterday a large buy was posted 151K at 4:00 then some 14 minutes later someone either bought/covered don;t know another two large sacks, someone is buying it, I guess they don't do Ichimoku miso soup either, they are more a tempura shrimp kind of person.
Said it last year with AVMXY saying it again, best buy/solid buy for the money in the market right now get some on a dip and put them in a cookie jar a shoe box under the mattress etc and forget about them, put them in a box and mark it do not open til Xmas. Put them up for sale @3 or something, they aren't supposed to be able to use them to short then, but, MMs aren't the most honest of sorts. And for heaven sake if you are going to buy them and put a stop loss on them a .05 or so lower don't do it, they knock a stock down just to grab those things its like putting fresh meat in front of a lion, they cannot help themselves. You aren't an investor if you think you need a stop loss t the price point and should put your money in a fund.
Peace out
Made a mistake was three large blocks last one being 151 K but was total of 600K+ shares, things are afoot and as I said before, sit back and relax you already won the game, its just a matter of the final score now, 12 million+ shares short remember that don't sell yourself cheap.
https://milled.com/francescas/happy-first-day-of-summer-u_cukB9FH-Wj0TD8
Peace out.
Very nice close to the day. 150K block @.4171 in fact its been bought up rather nicely for the past three days. Been pushed down hard to but was only allowed to be pushed so far till it was pushed back up.
Burned through a number of skus in 8 hours as well since the add on this morning started the day with 2448 after the add ons and now sitting at 2312. 136 skus in 8 hours not bad, we have only sold out 200+ of the liquidation/legacy inventory once before.
Clothing 675
Jewelry 807
Accessories 321
Beauty 160
Gifts 237
Shoes 112
The website is really cooking, everyday its gets better and the presence on the internet does as well the Instagram customer uploads Facebook etc. You cannot look anywhere Francesca's doesn't pop up, really impressed the way things have transpire the last 6 weeks with that, truly amazing.
A few other investors and I were chatting today and something came to me. I have been wondering since the CC why there was A) no mention of the cash situation on that day, sure the cash May 5th was nice surprise that it had gone up from 13 million on the May 3rd CC but no mention of June 13 number? B) No real guidance given sure they said did a 200 store trial run of 25K "the flawless" dress and in 3 weeks they moved 20K of those units and it would be pushed nationwide in soon.
It is on the website now by the way no bit internet promotional blast as of yet I am sure that is coming once all their ducks are in a row the full stock for 700+ stores whats that 100K units?
https://www.francescas.com/category/dresses/flawless-dress-shop.do?pp=60&sortby=bestSellersAscend&sortType=1
Then he spoke of... "the shorts shop. The buying teams identified that soft shorts were trending both in the market and in our boutiques with higher than average sell-through. After detailed analysis, the teams identified a large opportunity in the classification. The teams work with our vendor partners to chase over 70,000 units of shorts, which hit our stores three weeks ago. A shorts shop was set up in boutiques on our first table position and highlighted on the e-commerce site."
That got done and was launched this week.
https://www.francescas.com/category/clothing/shorts.do
https://pbs.twimg.com/media/D9Rgw4vW4AMWxM0.jpg:large
Their increase in Instagram and Facebook is well evident and the ladies uploading their pics of themselves in their Francesca's buys is still surprising to me, but, then again I am not really a live via the web kinda guy.
But it's like they are updating 2-3 times a day when it happens as soon as it happens. new style launched its on, new stock in its launched so much different than when Lawrence was there. They had a bring your dog to work day, I imagine in the warehouse/photo spot and uploaded that to Instagram, looks like it is a great atmosphere, keep listing/selling that old gear LOL.
https://www.instagram.com/francescas/?hl=en
https://www.facebook.com/francescascollectionsboutique/
https://twitter.com/francescas
But anyway back to my thoughts on why nothing was said on June 13th in regards to guidance, cash that day etc. I mean everyone and their brother can see the daily uploads and sell troughs of the legacy/liquidation stuff 10000's and 1000's of sku's sold out that is besides the store revenues etc. In the CC the CEO said he wanted to be through all that legacy merchandise by end of July which judging by the sku burn rate it is being accomplished.
"While we are extremely pleased with these successes, we will need to take aggressive steps to liquidate old product and get new product fully in place by the end of July."
My one question is this what is happening with all that cash? And since this is a shareholders meeting, trust me I been to more than 100 they will, let me repeat will be having answers to those questions that were not spoken of on June 13th.
Now many I speak with privately know I have my own thought on what they are doing and what I would do with all the legacy/liquidation cash. They are selling about $15 million at their cost worth of old stock, that's like found money, or newly rediscovered money and a lot of it and no specific place for it to go. It doesn't have to go into more stock etc its money coming in that was spent 2-3 years ago.
Me personally I would split it into 1/3's 1/3 bank it build the cash pile, 1/3 pay off more of the revolving credit line, 1/3 buy stock as it is selling for pennies on the dollar.
Whatever they do with it it is a "huge" positive and for anyone in their right mind to think that anything going on at Francesca's right now is bad and suggests that the stock should be pushed to the point where it puts the market cap of the company to $10-13 million dollars they are fool. The only reason it is and has been down is that hedge funds have pushed it there, they have increased their short positions by 1 million shares plus every week and that is a lot with a stock having a 33 million share float. its not investors don't want it, its not investor sentiment is down, its short sellers and nothing else.
If you think different you need to go to university and take a few courses because you are naive at best ignorant at the worst.
Will they be throwing all that cash just at the revolving credit it is 10 mil but there is nothing wrong with that every company on every stock exchange around the world uses the same type of credit facilities to run their business, its how things get done.
Will/have they buy stock back under their stock repurchase plan that has been in place and they have initiated every single year even last year when things were so bad, buying back 650K+ shares for $3.5 million? Why not, 3.5 million dollars will buy back 7.5 million shares, there is plenty of cash coming in from selling million and millions and millions of dollars in old stock that has just been sitting for years.
Will they just add it all to their cash position, this I don't believe. They have turned things around are not opening new stores or remodeling new ones, the ones in the first Q were the last remodels and openings that had been held over from last year that were already in place and underway.
I still stick with the theory 1/3 1/3 and a 1/3.
But whatever it is, we will find out next Friday and you bet one thing, they aren't pissing it away on hookers and blow. All that "Extra rediscovered cash" cash which is north of where shorts/hedge funds have pushed the market cap of the company today is doing some good, and it is significant.
Peace out have a great weekend, love the volume today, company buying, shorts covering longs loading whatever it was and has been the last few days its been good. But 12+ million shares are a lot of shares to cover, they have a long long long way to go, tick tock.
RS who gives a damn if it happens or not the market cap is the market cap hard to have a market cap of 13 million when your just turned $15 million of old inventory into cash and the market cap is the market cap and it sure as shit isn't $13 million or anywhere near it.
If you think that your high and are in need of an intervention set your shares at high prices and turn off those damn stop losses, they can see those and tick it down to get them.
Peace out.
Another guidance boost headed to 10+ said it before will say it again.
Peace out.
Originally thought they were just adding to the shoe and jewelry categories which they didn't yesterday, but, they loaded up more in the clothing and topped off some others a bit for the trip into the weekend, usually they haven't added to the legacy/liquidation inventory on the weekends I imagine as Friday-Sunday are for selling as they are the largest traffic days.
I will wait til 9AM from now on to give them time to add on from the warehouse til I update the numbers going forward. Lets see if they can burn through 150+ today.
We shall see how we get on with this lot of 2448 sku's, sell it, sell it all drop those inventory numbers by $15 mil and throw it into the cash column.
Clothing 770
Jewelry 812
Accessories 334
Beauty 166
Gifts 249
Shoes 117
I see they let the Irish gypsy out of the caravan park again. You would think there was an asphalt driveway that needed doing.
Great day selling through sku's, I love that you can count these things and see just where they are sales wise for a day on the site at least in the "legacy sales" sku's wise, ringing that register 24/7 it's like having more stores, but they never close 2064 sku's today I miscounted yesterday after adding there were only 2174 sku's so 110 sell through last 24 hours.
Clothing 618
Jewelry 653
Accessories 317
Beauty 160
Gifts 241
Shoes 75
They added again today
Clothing 618
Jewelry 805
Accessories 318
Beauty 161
Gifts 242
Shoes 97
2241 now
Will see how the pace keeps up but looks like could have a 700+ sku burn through this week.
Doing nice today with the adds to the legacy/liquidation part of website 89 sku's sold out so far today.
They started their 4th of July campaign today have an a lot of ladies uploading themselves in their Francesca's purchases, this one gal needs to be one of the influener ladies, the white lace kimono looks great on her, yeah the white thing LOL.
https://www.instagram.com/p/By29z1JIbGy/
https://www.francescas.com/
One of the more unusual legacy/liquidation products to surface from the warehouse, I got one for my niece she loves unicorns, and she 6. What in the world were the buyers thinking in the past thinking?
https://www.francescas.com/product/unicorn-yard-sprinkler.do?sortby=ourPicksAscend&refType=&from=fn&ecList=7&ecCategory=100162
In a laddies apparel store?
Everyday same thing insiders buying like gangbusters. Keep it up people.
Peace out.
They had $15 million their cost of old inventory, they have plenty to sell, interim CEO said be all gone sometime in July, they are moving it rather quick. All said and done should end up being about $20 mil+ in cash that had just been piled up.
That's why share price etc doesn't phase me, I don't think will be a reverse split, but, if there is so what. Market cap is market cap and they are selling millions and millions of stock for 8-10 weeks that was paid for 2-3 years ago, that's just cash cash and more cash.
Been saying from jump street its all about the market cap cash hard to ignore, extremely hard. Impossible actually.
Peace out.
Shorts hit it hard this AM but someone stepped in and bought a lot of it 130K of it in .38 neighborhood.
Peace out.
Shorts shoving it down as oil rises by the day, thanks added some .09's yesterday. SNEC just pumping day after day spending the barest of minimums.
Peace out.
They just put the new adds on today, bringing total going into today 2274 may add some more tomorrow but seems they have done their adds for the week to each category.
Must be acres of things in that old inventory but then again $15 mil at cost is a lot of stuff, thank goodness is it long since paid for, just found money at this point sell it and build that bank account up.
Well we been burning through 450-750 sku's of legacy/liquidation stock a week so we shall see, keep turning that old stock into cash cash and more cash.
Clothing 670
Jewelry 662
Accessories 329
Beauty 170
Gifts 263
Shoes 80
Evidently they just started this FranRewards deal at Francesca's got it from their milled daily emails. If you scroll past the FranRewards email you can see the other emails an ads they been blasting on the internet, doing a day, git-er-done done.
https://milled.com/francescascollectionsboutique/introducing-franrewards-49-2DJoUc1y5_OWc
As I replied to dubey yesterday morning they added quite a few skus after having added sparingly in the previous 3 days. After adding they had gone from 1475 to 1850 mostly adding clothes and accessories more than 200 accessories and 140 clothes. I imagine a lot of the clothes and accessories need to be re-shot so that the photos blend with one another and many more than likely had never had photos since the website was not utilized in the past as it is now.
Ended up selling out 57 sku's yesterday getting back down to 1793.
Clothing 612
Jewelry 661
Accessories 316
Beauty 83
Shoes 79
Gifts 42
Was doing some searching fashion of fashion trends and all to see if Francesca's new buyers were hitting the mark, seems they are, the hippy thing for sure is in, and shorts, I thought they were always in, but evidently 2019 they really are. Francesca's special sections hit just about every style trend for txhe year, I guess the CEO had it right after all.
Finally getting it right with buyers giving the ladies what they want, when they want it. Finally hitting the mark.
https://thestylescribe.com/2019/05/02/summer-whites/
https://www.francescas.com/category/new-arrivals/summer-whites.do
https://glowsly.com/short-shorts/
https://www.francescas.com/category/new-arrivals/short-shop.do
http://fashiongum.com/womens-fashion/boho-chic-bohemian-style-for-summer-2015/
https://www.francescas.com/category/new-arrivals/trend-festival.do
https://www.huffpost.com/entry/tie-dye-fashion-trend_l_5cd5a61ce4b0705e47db9745
https://www.francescas.com/category/new-arrivals/tie-dye.do
Fruits and bright colors too, brighter the better. Man, ladies go through quite the bit to stay on point.
https://cools.com/eat-fruit-wear-it-too
https://www.thezoereport.com/p/2019s-fruit-print-trend-is-unexpected-but-heres-how-to-master-it-17203346
https://www.francescas.com/category/new-arrivals/summer-brights.do?sortby=ourPicksAscend&pp=60&page=2
https://www.francescas.com/category/new-arrivals/stars-and-stripes.do
Not that I really understand any of these trends, just wanting to see that Francesca's was finally with the program when it came to what the hottest things were that ladies would be looking for. Pendergast has the buyers firing on all cylinders, if they want it, we got it.
Peace out.
Things are a lot different unfortunately, before they had a lot, I mean a lot less debt to tackle.
They need to get that CEO back from 2008 he was a wizard, he showed many other companies the way out, but even he may not have been able to stave off the RS, I was hoping but, their inability to find a solid CEO in the last 6 months has not been fruitful, hard to get a proper direction without a captain at the helm.
I will definitely be watching it going forward, looking for some major moves, starting with a large group of store closures and liquidation to give themselves some breathing room.
The new CEO did absolutely nothing that she was supposed to do. She should have been closing dead stores, selling off old inventory and I am sorry but her idea of running an expensive ad campaign which paid a lot in endorsements was not the wisest of choices.
I just took for granted she was doing all the right things, I think we discussed it 2-3 months ago that they were supposed to be closing non performing stores down, liquidating old stock obviously she thought a "I am woman, hear me roar" campaign was more important.
I have flipped a sack once and will continue to do that hopefully can make enough back flipping to even out and hopefully she can right the ship so that by EoY things are once again on track.
We shall see.
Kept track every few days or so when they started 5 weeks ago, then started keeping track daily I listed them all here and the additions. They were adding everyday then last 4-5 days were adding very little. Added a bunch this morning in clothing and Accessories am looking for big add on beauty and gifts tomorrow, but, who knows. Don't really know how they are going through the old stock, maybe just started at one spot and are working there way through it.
One fellow asked me today about how all the stock got there, I figured it was simple up until this CEO came the website was ignored for the most part like an after thought. For almost 3 years the last CEO and the Chairman of the board were focused on opening as many stores as fast as they could.
When things changed (stock) they had nothing they could do with it so it just went into the warehouse and sat and built up over the years, every year inventory was just sky rocketing. This interim CEO put people on the case why have 10's of millions of dollars just sitting, get the website ship shape and sell that stuff, and now they are. They are doing a good job moving the merchandise while also building up the main business.
What makes it good is its just cash added to the bank account, it doesn't have to be replaced and was paid for long long ago, just stack that cash.
I will be updating sku's and new adds every morning from here on out as I have the last 2 weeks or so. But since they started its 3K skus they have burned through, haven't a clue just how many they have to get through, but as long as it keeps rolling I am good with it, stack that cash.
Peace out.
Ships will sail around the world, but the Flat Earth Society will continue to flourish.”
https://www.businessinsider.com/warren-buffett-graham-and-doddsville-lecture-2015-8
Some people especially millenials that have been in the market all of 10 minutes never will, they will be back working 9-5 within 2-3 years most much sooner.
A RS at 1/5 or 1/35 which is the vote, has zero to do with the company. RS will not happen in 10 days stock doesn't have to be at $1 til July 31 first and foremost, its a trigger mechanism nothing else.
But, if it were to happen does that all of a sudden make the stores worth 10K each rather than the 19.5K each shorts pushed it to now? No, nor are they worth the $19.5K now everything is not about a chart. What about all the cash all the inventory they are now and have been liquidating for the past 5 weeks, that's worth nothing, just $19.5K per store and nothing else cash means nothing 10's million in inventory means nothing? LOL
Let the Irish gypsy have his fun, makes him feel big at the moment, like he has a clue.
Peace out.
Got the liquidation sku's down to 1475 after the add-ons yesterday morning, there are fewer added on now they must be about through with the bulk of the 2-3 year old inventory. Jewelry is really starting to show movement from the old stock, it has always been the top seller when viewing the "best sellers" list on the website but now is starting to show by losing 7-9 sku's a day which should hit 15 to 20 a day soon.
This morning ended with
Clothing 485
Jewelry 663
Accessories 120
Beauty 83
Shoes 80
They have moved a shit ton of inventory in the 5 weeks since the new website launch and clearance/legacy/liquidation whatever you want to call it section went live. Most know this but for those that don't a sku is just a an individual item like screw/bolt/nut at a hardware store. And like jewelry they had near 2000 different nuts/bolts/screws/nails and had 1000's of each one of these screws/nuts etc.
So like a necklace they are selling on sale for $14 originally say $22 and they just sold out the sku, in 5 weeks they sold 1000's of them to get to that sell out. 700+ stores 3 of the necklaces, maybe more left over per store brings the total to 1000's. So when we see these sku's selling out it means it took selling 1000's of those in the last 5 weeks just to sell out that 1 sku.
3000+ sku's sold out in 5 weeks think about that for a minute. Last night 9 skus in jewelry think about that for a minute how many 1000's of pieces at $14 got sold to sell out that sku? Think about that for a minute. Days when we have 100+ skus sold out in a day think about how many 10,000's individual items had to sell in the last 5 weeks to get those sku's sold out. Major amount of cash being built up, a major amount, no doubt. Shorts want you to think investors are selling but the numbers they report to FINRA every 2 weeks showing the sold another 1 million 1.5 million shares short shows its not investors selling its shorts, sure some throw up their hands and say _uck it but when short volumes are running 60-80% a day its them selling shares they don't own and must buy back.
Its like AVMXY this past people were beside themselves when there were some 20 million shares sold short here and on the Australian market. Everyday people saying oh the shorts are in control they will never let it go up, we will never see our investment grow. They will just keep selling it short, I told them then and I am telling you now, hogwash. Just sit back and enjoy the ride, you already won the game, them shorting it let you buy shares for .40 that will be selling for $4 in 4-5 months. Today is their day in the sun, but, like AVMXY many will be hurt especially those with smaller accounts as they are playing for pennies at the moment and when all that cash and all the increased sales gets reported like AVMXY they will find there aren't enough shares to cover to make those paper gains.
Like you they only make that money when they cover, you make it when you sell, what the account shows in meaningless, its not real. When they try and cover 12-13 million shares up it will go and at a much faster clip than when it went down which has been a snails pace. Since march 31 they have shorted 7 million shares and its dropped .15 cents by the closing price. And they haven't covered so they haven't made anything, it just looks like they have. Don't slap the ask, catch them on a dip if you add then immediately put them up for sale @405 dollars a share if your brokerages are following the rules that will make the shares unsupportable.
And don't sweat these hedge fund articles, they write them to scare people into selling some shares, they are all the same, run b the same people they just have different web addresses. They print out things like "investor sentiment is low" which isn't the case "short sellers are shorting the stock to death" it should say. They print things like XYZ fund/investment firm lowered its holdings etc etc, that's all BS too, those are things they did in Dec-March truth is, nobody knows that funds are adding or selling of FRAN as they don't start reporting for another couple weeks. And they reprint that FRAN is going to close another 30 stores this year, which is a lie, they closed 8 stores that were losing money and opened 4 new ones in much better spots. Happens all the time but they make it seem like there won't be any stores left in a year, that's how they operate, "the sky is falling".
One last thing this "debt" nonsense, FRAN just like every single other business/publicly traded company has a credit line, revolving credit/ABL whatever you want to call the it, every one of them, let me say that again in case you missed it "EVERY ONE OF THEM" Its how businesses operate huge amounts of money are flowing in and out all the time, they have these facilities so that their business operates smoothly nothing more nothing less. When companies have "bad debt" its when they loaned money for convertible debt that will turned into shares if they don;t pay the money back, with FRAN this isn't the case.
They had used 15 million on their credit line and paid back 5 million last Q and they ended up having 4.5 million more in cash than estimated. Today, with selling 10,000's of items from 2-3 year old inventory they have more than likely paid more of the credit line back, built up even more cash, but, we shorts will use that as a fear tactic and use it to lie. "Well on May 5th they...." who the _uck cares what was going on May 5th this is June 18th after 5 weeks and 3000 skus ago of old stock and the company having rolled out their turnaround that saw 20K shorts and 20K dresses (only 2 different items) in 3 weeks in 200 stores that just got rolled into 700+ stores and a new website that has traffic up 100%'s how many will they be selling now?
They don't want you to think about that, they want to keep your mind on 3-4 months ago, they cannot have you thinking about how he company is firing on all cylinders now, that doesn't help them. Keeping all the negative things from 3-4 months ago helps them, not whats been happening since then. So like I said and like I told people in AVMXY kick back and relax you already won the game, we just don;t know what the final score will be yet.
And avoid these website "news" articles as they aren't articles at all, if you click on them they are the same format etc because they aen't news sites at all, they are fictitious put out by hedge funds of which we have three heavily shorting FRAN, but, they have to cover soon, its the way it works, everyday gets closer to something being PR'ed and if they think they will be able to cover those 13 million shares under a $1 they are sadly mistaken, just as they were in AVMXY when they sent it on a a continuous 4 week climb to $7. Thy have pushed it to a point where they are valuing the stores at $19K each with the $15+ mil in legacy merch as 0.00 with the stock at .40, sign me up I will buy a few stores for that.
And as mentioned ignore these they aren't even real publications, just hedge fund sites pushing BS all run by the same crew with newspaper/print styled web addresses. A lot I know, and I didn't even list them all a lot of money goes into hedge funds shorting they shovel the horse _hit non stop. These aren't the everyday hedges funds these are the boiler room type, yes they have boiler room hedges, just like they have boiler room pumpers, not the most honest, law abiding groups but, it is what it is.
When you try and go back a page they all go to one site, their site. https://www.marketbeat.com/
https://rocklandregister.com/2019/06/15/francescas-holdings-corp-fran-stake-boosted-by-bank-of-america-corp-de.html
https://sundanceherald.com/2019/06/04/francescas-fran-stock-price-up-10-7.html
https://makdaily.com/francescas-holdings-corp-nasdaqfran-stock-sentiment-worsens/
https://findanews.com/2019/06/05/why-francescas-holdings-corporation-fran-stock-crashed-nearly-5-1-today/
https://byronbulletin.com/francescas-holdings-fran-stock-loses-6-05-for-the-week/36707/
https://pressrecorder.com/2019/05/31/today-investors-are-focusing-on-francescas-holdings-corporation-fran/
https://techknowbits.com/2019/06/09/insider-buying-francescas-holdings-corp-fran-major-shareholder-buys-123081-08-in-stock.html
https://nbonews.com/contrasting-of-ross-stores-inc-rost-and-francescas-holdings-corporation-nasdaqfran/
https://newsleading.info/2019/05/23/where-francescas-holdings-corporation-fran-stock-is-moving-now-spotted-at-0-53/
https://investtribune.com/francescas-holdings-corporation-fran-on-focus-after-trading-at-52-week-lows/
http://www.alphafinews.com/earnings-review/mind-boggling-stock-francescas-holdings-corporation-nasdaqfran/
https://thestockroll.com/a-look-from-top-to-bottom-on-francescas-holdings-fran/
https://glenrockgazette.com/francescas-holdings-corporation-nasdaqgsfran-according-to-quant-should-hold-0-00920-of-an-investors-portfolio/50734/
At the current market cap the shorts are valuing each shop at $19,613 and the $15 mil cost of goods in the warehouse being sold on the net is worth $0.00 nice. Okay.
Francescas Holdings Corp's current price is $0.40. Its book value per share for the quarter that ended in Apr. 2019 was $1.76. Hence, today's PB Ratio of Francescas Holdings Corp is 0.23.
https://www.gurufocus.com/term/Book+Value+Per+Share/fran/Book-Value-per-Share
$14,160,656 market cap with $17.5 mil+ in cash and $30+ million in inventory on May 5th with revenues of $400+ million and business firing on all cylinders now after turnaround, sure that works, not.
I would venture to say selling rather cheaply. Now worries, cash and sales rising by the day will be hard to cover 12-13 million shares without a nasty squeeze. Do not forget put your stock for sale @3+ may help with shares available to short.
Peace out.
Another nice LARGE director buy this time, 136K+ shares that is putting your $$ where it counts, thank you kind sir. Keep on that CEO's butt too.
Peace out.
Well I'll be damned the CEO purchased 141K shares @.13 I like that.
Peace out.
Starting to move quite a bit more jewelry it was a top seller before in the legacy/liquidation section of the website but has gained some momentum with the 2 for $15 sale which is still quite good margin wise with jewelry being the inventory with the largest mark ups in retail.
Sold out of 37 sku's with 13 of them being jewelry will no doubt take til August to sell all the old stock in jewelry as there are probably 100's of thousands of pieces with 671 different pieces. Even the way I believe that retail especially ladies apparel will never go 100% internet, just doesn't make sense, it is excellent having that website as things are for sale 24/7 I get that more and more watching the sku's number drop overnight day after day.
1504 sku's
Clothing 497
Jewelry 671
Accessories 123
Beauty 90
Shoes 79
Gifts 44
They added a few today 11 so starting day with 1515
They are starting what I think is their big
shorts" campaign throughout all 700+ stores as the CEO was speaking about in the CC Emails/Instagram/Facebook blasts all about shorts.
Nice finish to the weekend, not sure how many they added on Sunday was in flight/airport while that happened, but, they added some and ended this morning with 1542 sku's jewelry picking up the pace with 33 sku's sold out in 24 hours 47 total sold out for Sat/Sun.
Clothing 502
Jewelry 685
Accessorizes 130
Beauty 93
Shoes 83
Gifts 49
They are getting through this legacy/old stock rather well, additions this morning only 3 to clothing bringing them to 505 starting say with 1545 sku's.
I don't know about anyone else, but, I don't follow ladies fashion, most of the clothes I have been seeing on Francesca's had me scratching my head, but, then again what do I know. After their email and online blast yesterday "A Bit Of Boho, A Lot Of Lovely" I decided to do a search, okay I see now.
Found a couple articles, now understand why, still don't get it, but that's good thing IMO. I guess this is the Now+New, chase the fashion, etc thing the interim CEO was referring too, give the people what they want.
Had no idea this was such the thing now kind of trying to bring the hippie thing to an uplifted chic kind of thing. Lets just hope they (fashion/trend setters) skip the 70's no one needs to revisit that train wreck.
https://cristincooper.com/bohemian-style-summer/
https://thriveglobal.com/stories/how-to-dress-right-this-summer-2/
They added today but not sure how many things, so just have to wing it, when I did get off my flight and checked noticed there were more shoes, accessories and clothes but not sure how many were added/sold after as it was later in the day, but they are selling out sku's well again today.
They are on some kind of "influencer" campaign right now, not really sure what it is or how it works, but, seems to get a lot of traffic via Instagram and Facebook all these young models with lots of followers, kind of out of touch with the whole thing, heck I don't use my Iphone for anything but making calls, have it turned off half the time.
https://www.instagram.com/francescas/
https://www.facebook.com/pg/francescascollectionsboutique/posts/?ref=page_internal
Not sure what the deal is with the "As seen on Facebook Live" deal is, maybe its web chat show or something?
Pinterest don't know what that is either, I actually always thought it was image hosting site before FRAN LOL.
I will update the numbers in the morning at 10 AM, that is when they usually add on, I will give the 24 out sell outs of the "legacy" warehouse inventory and the numbers after the adds, once a day should be sufficient.
Happy fathers Day to all the dads.
Peace out.
Started off the weekend rather well had 1669 after they added some yesterday morning and burned through a number of sku's had 1602 sold out including 9 shoes, glad to see it. I know they say their is an azz for every seat but finding the right size azz to boot with a couple of sizes for certain seats adds to the difficulty.
Clothing 514
Jewelry 718
Accessories 138
Beauty 98
Shoes 84
Gifts 58
They did another added another "trend" category on the site using another of the Instagram models this for Palm Springs with Natalie Nerrelli she is also a runner up of Survivor, amazes me, first i never really knew of these models and am rather blown away at how many girls/ladies follow them, the whole "influencer" thing on the net is a new one for me, a bit to old I imagine.
https://twitter.com/francescas
https://www.instagram.com/p/BylIVYFDLx8/
They also hinted that the festival thing for the summer like the CMA awards road trip isn't over and there is more to come with that. I guess the whole festival look is a big thing this year.
https://twitter.com/hashtag/FestivalSZN?src=hash
Found a site that milled emails and Francesca's has been on the case daily, sending out emails on their new trends, sales and the website/online traffic even on the July 4th thing already, they definitely seem to be on their game now, things have definitely changed.
https://milled.com/francescas/re-your-summer-travels-u22SgGfbpoH8P_ei
Two different shareholders in FRAN visited shops yesterday one in WA and another in FL and had a chance to speak to the staff at the boutiques the visited and found that only about 20% of their goods come from China.
I was never really worried with the China thing for retail, I think because I had dabbled in it adding items from Asia when I imported antiques to the US. And the tariff won't hurt even that 20% as they will just cut all their buying in China before it even happens and other countries in Asia view China and the tariff issues with watering mouths.
They are readily willing and capable of taking away the business from China in an instant. Most jewelry is not even made in Thailand, the majority coming from India and Thailand. The new bags Francesca's has this year you can see just from looking at them they come from Mexico, Vietnam and Indonesia. The Vietnamese are well known for the rattan work that many of this years bags are made it, and the woven ones are made in Indonesia.
For most retail all the tariff talk is just nonsense from people that haven't a clue, just bloggers/journos running with the herd, retail apparel never has and never will be hurt by any dealings with China.
There will come a day IMHO where China will not be so dominant and I see it not long down the road, I mean why should they be? They steal and copy everything, their laws are draconian to foreign businesses and the goods that companies that manufacture there sell to China is minimal compared to the stolen/counterfeited goods produced there. Many times there are items to be bought counterfeit in warehouses in Chinatown in Manhattan before they are even in the shops in the US, I know it I have bought them.
You can go to any large flea market in a US metropolitan area and there will be dozens of Chinese stall holders selling nothing but counterfeited goods.
Why $300-1000 dollar phones can not be made in the US is BS IMHO, countless items made overseas then shipped here is wasteful and stupid. With people wanting manufacturing jobs in the US there could and should be factories here for them to be made. Nike for instance, cannot make $30 shoes that sell for $125 and up here? BS
Left leaning climate change warriors especially the millennial's they go and buy 90% of their goods from China where environmental rules aren't followed the environment is being destroyed daily, people where surgical masks to breathe in the street drink mostly bottled water and ship goods half way around the world burning 10's of millions of barrels of diesel fuel a week to get their techno gadgets to them so they can tweet about the earth is gonna end if we all don't drive electric cars. The hypocrisy of these marshmallow brained juveniles is astounding.
Whatever, too much left handed cigarette and posting.
Headed to the airport have to catch a flight to FL line up some contractors to do some work to my sister and brother in laws new house will check to see if they add on any sku's this AM, I kid of doubt it as I think its more a during the week kind of thing, but, will check.
Peace out, enjoy the weekend all.
Yeah in about 6 months, real soon their buddy.
Another director buying a nice chunk filing out yesterday.
Good to see.
Peace out.
Had some decent sell outs of sku's again last night sku's down to 1653 overnight.
Clothing 531
Jewelry 718
Accessories 145
Beauty 104
Shoes 93
Gifts 62
They did add again though not as much as the two previous days,
Clothing 544
Jewelry 718
Accessories 146
Beauty 105
Shoes 94
Gifts 62
They upped their game for the weekend as the CEO mentioned there is a extra push for online sales June 13-16 with some tops/dresses marked down for online sales only and clearance items discounted more, jewelry is 2 for $15 for the weekend, no wonder some of the jewelry sku's have been selling out.
https://www.francescas.com/category/deals-of-the-week.do
They are starting to Tweet/Instagram/Facebook shout out their July 4th merchandise, that started yesterday.
Current online promotions
https://www.francescas.com/text/content/2019/June/junb2c6-15-mobile.html
They are really pushing the online thing everywhere.
Just have to see what the day brings a fellow investor I chat with on twitter is in palm Springs for the weekend, they came across the Palm Springs store, they are going to go in a check it out Today.
https://ton.twitter.com/i/ton/data/dm/1139751431932485638/1139751427956305920/e6JphrkJ.jpg
Well we are doing the in between catalyst shuffle, had a feeling this would be the case, no matter the company it seems it is the way of the market these days, so many looking for "the move".
Looking rock solid at what I say to myself is our solid base until the events of the summer occur, 5 is where the majority of institutional shares are averaged at, it dipped any deeper from this, they would pile in IMHO, kinda risky for anyone to try and play it or short it from these level.
Thus we wait, kind of like flag ships of old, we have reached an area with no wind, thus we sit, but wind always comes back, mother natures way of resting is all.
Hope everyone is having a good start to their summer, I read posts everyday, lurking and reading, LOL.
Rock solid $10 by Xmas.
Peace out.
Another great day selling through sku's, I love that you can count these things and see just where they are sales wise for a day on the site at least in the "legacy sales" sku's wise. Doesn't tell the entire story but it is a little insightful.
Ceo said "New + Now sold on average four times to six times as fast as legacy product, with higher than chain average merchandise margins as well."
After they added this morning as they did yesterday morning there were 1778 sku's mostly from clothing category, but did add 20 shoes sku's (blah) shoes are hardest, but did sell through 6 sku's worth.
Clothing 543
Jewelry 720
Accessories 149
Beauty 106
Shoes 94
Gifts 64
For 1675 skus, not bad 103 sku's burned through in 12 hours. Not sure if they will add more "legacy"/warehouse inventory tomorrow as they have the past two mornings, we shall see. Liking the amount of sell outs of sku's though, Jewelry still top selling item on clearance section but now sku's are dropping too in jewelry. 11 sku's isn't a lot but, low cost basis jewelry is a large part of any stores liquidation inventory as it is bought in such numbers and with as 700+ store system some sku's of jewelry could have 1000+ pieces.
Which as I have said isn't bad, jewelry is high margin even at clearance prices jewelry being the most marked up retail item in retails because such a large inventory of individual sku's are needed to be in the selling jewelry game.
Wouldn't mind another 50-75 sku's selling before morning we shall see, as well we'll see if they add another 100 sku's, tomorrow lord knows after 2-3 years how many different sku's of product they have to sell off for cash.
"While we are extremely pleased with these successes, we will need to take aggressive steps to liquidate old product and get new product fully in place by the end of July. Some of the more legacy products sold through well after first markdown, but there was still a substantial amount where we needed to take to a deeper markdown to move it. While this will create short-term margin pressure, we will more quickly be in a position to have a fully revamped assortment. "
The more the better sell it, sell it all. CEO said may take till end of July to sell all the old stock which should increase rev's for the W handsomely $15+ mil on cost its being sold for more than that in most cases, maybe not all shoes or gifts but definitely the jewelry and clothing is being sold for ore than it cost, jewelry way more, been in that game mark up is righteous.
Have a good evening all, hopefully we are through the traders selling off and the pissed off long, what in world would have him sell is beyond me and to dump it on the bid, foolish, no matter how upset I am I am not gonna take a further hit dumping it at market. It is what it is.
Peace out.
One fellow I kn0w from Twitter that was in the stock caused the sell off this morning. Bugermeggie on Stocktwits Masters Dad
@MastersDad on Twitter
I don't know if was because there was no guidance given to boost the price, or he was angry the Chairman was pushed out, or what. But he dumped out the rest of his 170K this morning I think the 70-80K at 3:30 yesterday was part of his too, the 80K that started the day was definitely his, shocked me.
I added 21K of them I know where another 13.5K went I was wondering where in the heck that stock was coming from. Blew me away.
People aren't investors anymore, they want in a stock for a week or two, then complain the never make $$.
Crazy, it is what it is.
Peace out.
I don't know if he was corrupt, just wrong definitely. He obviously had huge sway over the way things got done, I will still never understand the hiring of someone that was never a top tier exec to be a CEO that's like making the bus boy the maître d'
One of the ways Francesca's has been driving sales since the new launch and internet focus 5 weeks ago. Its a full court press, CEO rocking it, our days are coming. Sku's dropping like a bad habit.
https://entertainmentandstyle.com/2019/06/13/summer-vibes-rompers-and-healthy-food/
https://milled.com/francescas/spotted-new-festival-styles-2AqTpUEC12eHgXWA
https://www.retailmenot.com/blog/francescas-semi-annual-sale.html
They added another 100 sku's today, probably a lot to go through of old inventory, 2+ years is a long time.
May be adding daily they added 150 yesterday will see how the day goes, hopefully can sell out more than they added again, they certainly are all over the net pushing this sale. Loving it, turn old stuff into cash.
1778 sku's as of now.
FRAN $3-4 by Xmas.
Peace out.
Had a great 24 hours, the "legacy sales"/liquidation section of website churning through the merchandise, in 24 hours went from 1823 sku's to 1682 sku's haven't a clue how much total was sold but that is a lot of sku's to burn through.
Clothing 551
Jewelry 731
Accessories 146
Beauty 110
Shoes 78
Gifts/Home 66
Jewelry is still the best selling category by far, not sku's sold wise but items wise, which as I have said is good, it's the highest margin with lowest mark down.
https://www.francescas.com/category/clearance.do?pp=60&sortby=bestSellersAscend&sortType=1
Read so many articles on Francesca's pretty much all were cut and pastes of 3-4 month old rehashed nonsense and misrepresentations.
First the sales plummets as company has to close 30 more stores, know its they closed 8 under performers that were weighing down profits and were able to negotiate with landlords to close 22 more profit draining stores. But they go with "Francesaca's to close 3 more stores" Which is a misrepresentation and meant to be IMO, they are stock site bloggers with an agenda and more than likely a position, if not why not just be truthful.
They wanted to close those stores it was smart business to turn things around, PIR did the same exact thing FRAN is doing right now in 2009, I know I was there, dealing with the same BS we are now, all the shorts, their blogs, their posts and their websites. They dealt with landlords made concessions for lower rent and early releases on their leases for stores that were losing money, and that is somehow a bad thing?
The sales were down, with stores being closed and counting only the numbers up until may 5th of course. It's like I want to say "No shit Sherlock damn you are so smart"
Internet sales not as well as we wanted, again great observation Einsteins. That was before revamped/re-launched website 5 weeks ago, they say nothing of the new sites traffic, Instagram followers, Facebook followers, or the merch that seems to be rolling out of the website since then.
Everything they do that positive, short newsletters and bloggers which in my opinion is all today's journalists are, each article is just a cut and paste job of 3-4 other bloggers.
It is what it is, numbers don't lie, they don't mention that the company on march 5th had 4.5 million more on may 5th than they estimated they had on the 3rd. They just rehash some blogger from Houston "Francesca's burning through cash had 17.5 million to last years 21.5 million and the year before 41 million.
I mean seriously, quit being lazy and do your job. Everything that was released yesterday and in the CC was about things as they were May 5th 5 weeks ago, nothing about cash today, nothing about new website and the traffic they are getting from it, nothing about the photos of Instagram followers uploading everyday to the site photo's of them in their new outfits, nothing about the sku's from the 2+ years of built up stock being liquidated quickly through the new website and how that must be building a rather large cash position.
They don't mention the YouTube haul girls with nearly 100K hits in the last month showing off their Francesca buys, no don't do that just say its all horrible.
Clothes are shit and belong in a trailer park shopping magazine, that was the most colorful post by a short I saw.
This gal doesn't look like she lives in a trailer park or is anywhere near one. Funny how she chose her Francesca's dress to take on a great holiday 1 and 2 make a video of it, since as shorts say its garbage.
https://www.youtube.com/watch?v=-lxf1AaJnJQ
Nothing about the "back in stock listings" on the website which shows they are selling tons of the new merchandise. Nothing about the two teases/hints as to today's business, like these four little diddies.
1)
"We aligned all social media digital marketing activities behind the New + Now launch. We also set the New + Now product at the front of each of the 200 boutiques that the product launched in. The product was offered at more historically appropriate price tickets in the $38 to $44 retail range and the sell-throughs were amazing. New + Now sold on average four times to six times as fast as legacy product, with higher than chain average merchandise margins as well. The New + Now capsule will be rolled out to all stores throughout the second-half of this year."
4-6 times more than the liquidation/legacy sales, really and we have all been able to see how much is moving in the liquidation/legacy sales by seeing the sku's get burned through, but, don't mention that, doesn't help the short cause.
2)
"Second, the shorts shop. The buying teams identified that soft shorts were trending both in the market and in our boutiques with higher than average sell-through. After detailed analysis, the teams identified a large opportunity in the classification. The teams work with our vendor partners to chase over 70,000 units of shorts, which hit our stores three weeks ago. A shorts shop was set up in boutiques on our first table position and highlighted on the e-commerce site.
In addition, it was highly supported through digital marketing and all social media channels. The sell-throughs and gross margins have been terrific and well above boutique averages. Again, this product is presented at more historical MSRP pricing in the $38 to $44 price range."
But let's not mention that either, that doesn't make for exciting reading, facts are never good, they are horrible, leave those aside.
3)
"Third, the team executed an initiative to bring back one of our most powerful items called the flawless dress. Once again, based on detailed data analysis, the team identified a large sales and margin opportunity in a key item that the previous merchant teams have discontinued. This style had been a consistent winner season after season, however, the style was abandoned. The current teams brought it back and diversified fabrications, colors and length, and we are getting an enormous customer response. Approximately, four weeks ago, we delivered our first shot of 25,000 units of the flawless dress and to date have sold almost 20,000 units. The style will continue to flow into all of our stores over the course of the next six weeks and beyond."
Yeah sounds like things are just terrible, wouldn't want to mention that in an article/blog.
4)
"While we are extremely pleased with these successes, we will need to take aggressive steps to liquidate old product and get new product fully in place by the end of July."
Well anyone can count sku's and see it is rolling out and quick, and not only will it get that $15+ million at cost merchandise rolled out quick and sooner than July at the rate they are going, but, build cash which at this point my guess would be its 22.5 million its only a guess but after 5 weeks of the selling they have been doing and turnaround cranking, the news premium outlet stores they have opened, especially the one in Paramus and the one at Empire Outlets which literally delivers international tourists daily by way of the "free" ferry, that store IMHO will equal 2-3 other stores alone.
Just shut out all the noise, I been here before, went through it with PIR and countless others, just something have to deal with.
This is my personal AVMXY this year, I was alone in the wilderness with it last year talking to myself and don't mind doing it again with FRAN, helps me work out the frustration where you just want to throttle someone for being a lowlife liar and a cheat. They are nothing more nothing less.
Finally we got rid of that worthless Chairman of the board, Lawrence was his pet evidently, from what that Jenks Jumps says it was Lawrence just doing the bidding of the board ie. the Chairman when recklessly opening and doing store makeovers. I have no clue, someone was an idiot or the two were idiots together, the doesn't actually leave til January 31st I think but, I imagine his role is limited and is not listened to anymore what so ever as he shouldn't be, whether he was the architect of the reckless spending or his boy Lawrence was, he at least brought him into the company which is cause enough to ask him to leave the board. Lawrence was a neophyte who was way out of his depth.
he had never held a position anywhere close to the level of CEO and how he was considered let alone hired is beyond me, the job was above his pay grade, and the results speak for themselves, good riddance to both the ex CEO and the Chairman of the Board, you shall not be missed, at least not by me.
Found there are at least 3 very large very vocal shorts on FRAN both out of New York
this is where a lot of the heavy shorting is coming from which by now judging the may 30th report of 11.4 mil short they should be near 12.5-13 million bu now. FRAN is on SSR today short restricted list which is good, needs to be put on it for a while, it has been shorted to well under its cash on hand value let alone business value deeply.
https://twitter.com/MaglanCapital
https://twitter.com/DonutShorts
They have to cover at some point, clock is ticking as we all "KNOW" the next Q will be excellent, judging by the CEO's words yesterday and simply at watching the sku count drop by the day, that as I said IMHO will be almost done sold out by end of June at the current rate of sales.
Its not that no one is invested in FRAN or wants to its that at least 2 large funds have shorted million s and millions of share, but they have to cover. I have never been one to believe this but some say you put your shares for sale at say $3 in this case, they cannot be used to short, haven't a clue if its real or not but in theory it is true, shares under contract are not a allowed to be sold short.
Peace out
Very nice to see indeed.
Peace out.
Not a bad day all in all, still had some shorting going on, but a bit of covering by smaller traders and some selling by traders who only got in for the ER. It should start settling out here and rise back slow and steady.
One short on Stock Twits keeps posting this, which refers to End of Q1 not since new site and legacy/clearance section, they always want to focus on yesterday not today.
" Boutique and outlet store results were better than expected, while our e-commerce business UNDERPERFORMED expectations." if you cant sell online, you're TOAST!!!!!!!!!!"
Well its working wonders now sugar britches LOL.
After CC they had added 150 sku's to the legacy/clearance part of the site brought the sku's back up to 1823 but had some nice selling off of it all day. In 5 hours got knocked down to 1733 so far today. 2140 sku's gone in a little over a month, should be up to 2500 by the weekend at this rate, hopefully.
Clothing (Includes tops/dresses) 570
Jewelry 741
Accessories 155
Beauty 112
Shoes 80
Gifts and Home 75
Jewelry goes down the fewest as far as sku number even though it is among best selling of all legacy/clearance items, but, many probably have 100's of pieces many maybe 1000's probably take all summer to move the lot, but, it is highest margin by far. Shoes be toughest to go because of size requirements, first find the gal that wants them, then do you have them in her size?
Doesn't give an entirely clear picture of how much clearance is selling but, gives a pretty good one, if you are clearing 100 sku's in a day has to be 1000+ items selling a day from clearance if not more. Good thing with it, you have to order $60 to get the free shipping, so probably get good $$ per transaction. Love this new website opened up endless possibilities especially clearing out legacy stock.
https://www.francescas.com/category/clearance.do?pp=60&sortby=bestSellersAscend&sortType=1
Move that merch get that cash, its all up from here.
I am gonna keep a running tally, no one else is speaking here, I will just do as I did last spring/summer on AVMXY board talk to myself LOL.
Peace out.