Latest Key Developments (Source: Significant Developments)
Express Inc Issues Q1 2013 Earnings Guidance Below Analysts' Estimates; Comments On Q1 2013 Comparable Sales Guidance
Express Inc announced that for first quarter of 2013, it expects comparable sales, including e-commerce, to range from flat to down low single digits compared to an increase of 4% in the first quarter of 2012. Net income is expected in the range of $29.5 million to $32.5 million, or $0.34 to $0.38 per diluted share on 85.5 million weighted average shares outstanding. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $39 million and EPS of $0.46 for first quarter of 2013. Full Article
Express Inc Raises Q4, FY 2012 EPS Guidance; Raises Q4, FY 2012 Comparable Sales Guidance
Express Inc raised fourth quarter 2012 guidance and expects comparable sales to range from flat to up 1%, compared to previous expectation of a decrease in the low single digit range. Net income is expected in the range of $61 to $63 million, or $0.72 to $0.74 per diluted share. This compares to the Company's previous guidance of $53 to $58 million, or $0.62 to $0.68 per diluted share. Based on its increased fourth quarter outlook, the Company is adjusting its fiscal 2012 guidance. Comparable sales are now expected to be approximately flat compared to the previous expectation of a decrease in the low single digit range. Net income for the fifty-three week period in 2012 is currently estimated at $136 to $138 million, or $1.56 to $1.59 per diluted share. This compares to the Company's previous expectation of $128 to $133 million, or $1.47 to $1.53 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.66 for fourth quarter of 2012; EPS of $1.50 for fiscal 2012. Full Article
Express Inc Issues Q4 2012 Earnings Guidance Above Analysts' Estimates; Comments On Q4 2012 Comparable Sales Guidance; Lowers FY 2012 Earnings Guidance And Comparable Sales Guidance
Express Inc announced that for the fourth quarter of 2012, it expects comparable sales to decrease low single digits compared to an increase of 5% in the fourth quarter of 2011 and net income is expected in the range of $53-$58 million, or $0.62-$0.68 per diluted share (EPS). The Company is revising fiscal 2012 guidance and currently expects comparable sales to decrease low single digits compared to an increase of 6% in fiscal 2011 and earnings are expected in the range of $1.47-$1.53 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.56 for the fourth quarter of 2012. Full Article
Express Inc Names David Kornberg As President
Express Inc announced that David Kornberg has been promoted to President. Full Article
Express Inc Lowers Q3 2012 Guidance; Lowers Q3 2012 Comparable Sale Store Guidance
Express Inc updated third quarter 2012 guidance and expects comparable sales to decline in the mid single digit range. Net income for the third quarter of 2012 is currently expected in the range of $14 million to $17 million, or $0.16 to $0.20 per diluted share (EPS). According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $25 million and EPS of $0.29 for third quarter of 2012. Full Article
Express Inc Issues Q3, Q4 2012 Earnings Guidance Below Analysts' Estimates; Comments On Q3, Q4 2012 Comparable Sales Guidance; Lowers FY 2012 EPS Guidance; Lowers FY 2012 Comparable Sales Guidance
Express Inc announced that it currently expects third quarter 2012 comparable sales to be flat to up low single digits. Net income is expected in the range of $23.0 million to $28.0 million, or $0.27 to $0.32 per diluted share for the third quarter 2012. Based on third quarter 2012 and fiscal 2012 guidance, this implies fourth quarter 2012 net income guidance in the range of $67.0-$71.0 million, or $0.77 to $0.82 per diluted share. The Company has revised fiscal 2012 guidance and currently expects comparable sales to increase low single digits. Earnings for the fifty-three week period in fiscal 2012 are expected in the range of $1.69 to $1.79 per diluted share. Consistent with previous years, this guidance excludes any non-core operating items that may occur, such as debt extinguishment costs. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $32.8 million and EPS of $0.37 for the third quarter of 2012; net income of $73.5 million and EPS of $0.82 for the fourth quarter of 2012; EPS of $1.83 for fiscal 2012. Full Article
Express Inc Announces $100 Million Share Repurchase Program
Express Inc announced that its Board of Directors has authorized the Company to repurchase up to $100 million of Company common stock. The repurchase program will be funded using the Company's available cash and is expected to be executed over the next 18 months. Full Article
Express Inc Issues Q2 2012 Earnings Guidance Below Estimates; Comments On Q2 2012 Comparable Sales Guidance; Lowers FY 2012 EPS Guidance; Lowers Low End Of Prior FY 2012 Comparable Sales Guidance
Express Inc announced that for second quarter of 2012, it expects comparable sales to increase low to mid single digits compared to an increase of 6% in the second quarter of 2011. The effective tax rate is expected to be approximately 40% for the second quarter of 2012. Net income is expected in the range of $13.0 million to $16.0 million, or $0.15 to $0.18 per diluted share (EPS) on 89.4 million weighted average shares outstanding. For fiscal 2012, it expects comparable sales to increase in the low to mid single digits compared to an increase of 6% in 2011. The effective tax rate is expected to be between 39.9% and 40.1% for 2012. Earnings for fiscal 2012 are expected in the range of $1.79 to $1.89 per diluted share on 89.6 million weighted average shares outstanding. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $17 million and EPS of $0.20 for second quarter of 2012; EPS of $1.95 for fiscal 2012. Full Article
Express Inc Issues Q1, FY 2012 Earnings Guidance In Line With Analysts' Estimates; Comments On Q1, FY 2012 Comparable Sales Guidance
Express Inc announced that for first quarter of 2012, it expects comparable sales to increase mid single digits compared to an increase of 8% in the first quarter of 2011. Net income is expected in the range of $41 million to $44 million, or $0.46 to $0.49 per diluted share (EPS) on 89.2 million weighted average shares outstanding. For fiscal 2012, it expects comparable sales to increase mid single digits for the fifty-three week period in 2012 compared to an increase of 6% for the fifty-two week period in 2011. Earnings are expected in the range of $1.84 to $1.97 per diluted share on 89.5 million shares weighted average shares outstanding. According to I/B/E/S estimates, analysts were expecting the Company to report net income of $42 million and EPS of $0.47 for first quarter of 2012; net income of $170 million and EPS of $1.91 for fiscal 2012. Full Article
Express Inc Reaffirms Q4 2012 Guidance-Conference Call
Express Inc announced that for the fourth quarter of 2012, it continue to expect to report operating results in line with its previous guidance including a mid single-digit increase in comparable sales and remain comfortable with fourth quarter 2012 earnings in the range of $0.66-$0.70 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.68 for the fourth quarter of 2012. Full Article
Apparel retailer Express off to slow start in first-quarter, shares down
- Apparel and accessories retailer Express Inc said it was off to a slow start in the current quarter as consumers hold back on spending, after revamped merchandise and promotions helped it post strong fourth-quarter results.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
