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Express, Inc

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Express, Inc. (NYSE: EXPR) today announced its fourth quarter and full year 2010 financial results for the thirteen week period ended January 29, 2011.

Net sales increased 14% to $621.5 million from $546.8 million in the fourth quarter of 2009;

Comparable sales for the fourth quarter increased 12%, including e-commerce sales (8% excluding e-commerce sales), and follows an 8% increase in comparable sales (4% excluding e-commerce sales) in the fourth quarter of 2009.

Net income was $48.4 million, or $0.55 per diluted share on 88.7 million weighted average shares outstanding. This compares to net income of $46.0 million, or $0.60 per diluted share on 77.1 million weighted average shares outstanding, in the fourth quarter of 2009; and

Net income, adjusted for costs related to the secondary offering completed on December 15, 2010 and the impact of the true-up of the Company's statutory tax rate applied to non-core operating costs attributed to the Senior Notes offering and initial public offering, was $48.9 million, or $0.55 per diluted share, in the fourth quarter of 2010.

 

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