Express Down 25% on Weak Earnings and Guidance

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Express, Inc.
EXPR
is trading lower on the session following its Q1 earnings announcement. The company reported an EPS of $0.47 vs $0.49 estimates and revenues $496 million vs $503.17 million estimates. Express also guided its Q2 EPS below the analyst estimates. Michael Weiss, Express, Inc.'s Chairman, President, and Chief Executive Officer commented: "We had a solid start to the year, reporting a double digit increase in earnings per diluted share while making steady progress toward our long-term goals. The first quarter included the roll out of our new loyalty program, Express NEXT, to all stores in the United States and the opening of four new stores in our new design format. In addition, shortly after quarter end, we entered into a multi-country international franchise arrangement, marking our entry into Latin America." Express is currently trading at $17.22, a loss of $5.87 or 25.42%.
Posted In: Intraday UpdateMovers
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