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Express Misses 2Q Forecasts

Express Inc. reported fiscal second-quarter net income of $10.1 million.

Associated Press

24 August 2016

COLUMBUS, United States — Express Inc. on Wednesday reported fiscal second-quarter net income of $10.1 million.

The Columbus, Ohio-based company said it had net income of 13 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The clothing and accessories chain posted revenue of $504.8 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $524.8 million.

Express expects full-year earnings in the range of $1 to $1.14 per share.

Express shares have declined 7 percent since the beginning of the year. The stock has decreased 4 percent in the last 12 months.

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