John De Meritt, chief executive officer and co-founder of Francesca’s Holdings Corp., is stepping out on a high note and ceding the top job to president Neill Davis.
De Meritt has been ceo since 2007 and took the company public in July 2011. He will stay on until the end of the year when Davis will take over. The incoming ceo joined Francesca's board in 2007 and spent 15 years at The Men's Wearhouse Inc., where he served as executive vice president as well as chief financial officer. Francesca's chief operating officer Theresa Backes will also be moved up to president.
De Meritt is leaving to “pursue personal endeavors.” Greg Brenneman, non-executive chairman, praised the executive and said, “While we will miss John's many talents, we understand and support his decision to begin a new chapter in his life.”
The ceo leaves a quickly growing chain in his wake.
Francesca’s said its second-quarter net income shot up 130.7 percent to $12.7 million, or 28 cents a diluted share, from $5.5 million, or 13 cents, a year earlier. Earnings per share came in 4 cents ahead of the 24 cents analysts expected.
Sales for the three months ended July 28 rose 49.1 percent to $76.4 million from $51.2 million and comparable-store sales gained 20.7 percent.
Investors looked past the numbers and to the executive suite. Francesca’s stock slipped 2.3 percent to $35.24 in afterhours trading, but were still up over 50 percent since the company’s IPO.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over the top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty