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Express Trades Higher On Q4 Earnings Beat

Express (NYSE: EXPR) reported fourth-quarter earnings of 19 cents per share on Wednesday, which beat the analyst consensus estimate of 18 cents by 5.56%. This is unchanged from the same period last year.

Benzinga · 03/11/2020 11:45

Express (NYSE: EXPR) reported fourth-quarter earnings of 19 cents per share on Wednesday, which beat the analyst consensus estimate of 18 cents by 5.56%. This is unchanged from the same period last year.

The company reported quarterly sales of $606.7 million, which beat the analyst consensus estimate of $604.8 million by 0.31%. This is a 3.46% decrease over sales of $628.426 million the same period last year.

Express sees first-quarter EPS at a loss of 22-18 cents versus the estimate of an 11-cent loss,.

"Our results show the third consecutive quarter of sequential improvement in our comp sales trend, as the actions we have taken in the early stages of our transformation are resonating with customers," said Tim Baxter, CEO of Express. "While there is certainly volatility surrounding the coronavirus, our lean inventory position gives us the flexibility to invest appropriately in new products in response to business trends in the coming months."

Express traded higher by 13.31% at $2.81per share in Wednesday's pre-market session. The stock has a 52-week high of $6.24 and a 52-week low of $1.83.

Photo credit: Mike Mozart, Flickr