Express Trades Sharply Higher After Q1 Sales Beat

Fashion retailer Express Inc. EXPR reported quarterly losses of 15 cents per share, which beat the analyst consensus estimate of a 31-cent loss.

Express reported quarterly sales of $451.3 million, which beat the analyst consensus estimate of $430.68 million. This is a 5.85 percent decrease over sales of $479.352 million the same period last year.

First-quarter comparable store sales were down 9 percent year over year.

Express traded higher by 11 percent at $3.53 per share early Thursday morning. The stock closed Wednesday down more than 7.8 percent at $3.17 per share.

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