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Express (NYSE:EXPR) reported second-quarter losses of 13 cents per share, which beat the analyst consensus estimate by 3 cents.
The company reported quarterly sales of $472.7 million, which beat the analyst consensus estimate of $458.68 million by 3.06%. This is a 4.24% decrease over sales of $493.605 million the same period last year.
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Express now sees third-quarter comparable store sales down 6%-7%.
"Since joining Express in mid-June, I've been mainly focused on three key areas: developing a corporate strategy, building the right leadership team, and taking immediate action to change the trajectory of our business," said CEO Tim Baxter. "Our second-quarter results are not indicative of what this company can deliver, and I am committed to returning Express to long-term, profitable growth."
Express shares were trading down 5.91% at $1.75 in Wednesday’s pre-market session. The stock has a 52-week high of $11.68 and a 52-week low of $1.83.
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Photo credit: Mike Mozart, Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.