UPDATE: Express Posts Drop In Q4 Profit, Issues Weak Forecast
Express (NYSE: EXPR) reported a drop in its fourth-quarter profit and issued a weak outlook.
Express expects Q1 profit of $0.12 to $0.18 per share and full-year profit of $1.03 to $1.23 per share. However, analysts were expecting a Q1 profit of $0.42 per share and full-year profit of $1.59 per share.
Express posted its quarterly profit of $47.9 million, or $0.57 per share, versus a year-ago profit of $63.9 million, or $0.75 per share. However, analysts expected a profit of $0.59 per share.
Express shares fell 9.43% to $16.52 at 10:00 a.m. ET.
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