×
77 056
Fashion Jobs
OLD NAVY
General Manager - Liberty Center
Permanent · Liberty Township
NIKE
Manager, Vendor Management Office – Global Tech
Permanent · Beaverton
NIKE
Marketplace Operations Business Analyst
Permanent · Beaverton
NIKE
Senior Product Line Manager - Men’s Classics Footwear
Permanent · Beaverton
JCPENNEY
Asset Protection Security Specialist
Permanent · Plano
JCPENNEY
Asset Protection Specialist
Permanent · Plano
LULULEMON
Keyleader/Store Business Lead | Sawgrass Mills Outlet
Permanent · Sunrise
TAPESTRY
Area Manager
Permanent · Columbus
TAPESTRY
Manager, Human Resources
Permanent · New York
MICHAEL KORS STORES CALIFORNIA INC
Operations Manager
Permanent · Ontario
ESTÉE LAUDER
Senior Lead, Business Analyst, R&D Innovation & Planning
Permanent · New York
ESTÉE LAUDER
Director, Global Digital Creative Design
Permanent · New York
ABERCROMBIE AND FITCH CO.
sr. Procurement Analyst, Supply Chain
Permanent · Columbus
CENTRIC BRANDS
Account Executive - Ecommerce
Permanent · New York
ADIDAS
Manager, Gbs Payroll
Permanent · Portland
ADIDAS
sr. Manager, Gbs Payroll
Permanent · Portland
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Tulsa
KOHLS
Senior Business Operations Analyst - HR
Permanent · Menomonee Falls
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Fargo
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Hodgkins
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Cartersville
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Wheaton
By
Reuters
Published
May 30, 2013
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Spring collection helps Express results beat estimations

By
Reuters
Published
May 30, 2013

Specialty apparel and accessories retailer Express' first-quarter results beat estimates, helped by promotions for cheaper spring clothes, and the company forecast current-quarter profit above analysts' expectations.

Express expects a second-quarter profit of 17 cents to 21 cents per share. Analysts on average expect a profit of 14 cents per share, according to Thomson Reuters.

Current season at Express | Source: Express

The company that caters to 20- to 30-year-olds battled high levels of inventory last year as a promotional strategy failed to impress customers. Following this, Express lowered its prices and offered promotions such as 30-50 percent discounts on select merchandise.

Net income fell to $32.4 million, or 38 cents per share, in the quarter ended April 28, from $42.1 million, or 47 cents per share, a year earlier.

Revenue rose 3 percent to $508.5 million. Comparable sales, however, were flat.

Analysts expected earnings of 36 cents per share on revenue of $498.2 million.

"While we promoted more heavily in the face of a highly promotional environment, we managed our expenses tightly," Chief Executive Michael Weiss said.

Expenses fell 1.4 percent to $112.6 million in the quarter.

Women's apparel retailer Ann Inc cut its first-quarter sales forecast earlier this month as it discounted more to sell spring merchandise during a prolonged winter season.

Shares of Express closed at $18.79 on the New York Stock Exchange on Wednesday.

© Thomson Reuters 2022 All rights reserved.