Investing.com - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Express posts surprise quarterly profit - shares rally

Published 08/23/2017, 02:02 PM
© Reuters. Express posts surprise quarterly profit - shares rally
EXPRQ
-

Investing.com - Express Inc (NYSE:EXPR) shares were rallying on Wednesday as investors cheered the company’s report of a second quarter profit, defying forecasts for a loss.

The company earned $0.01 per share in the latest quarter, despite calls for a $0.01 per share loss. Revenue declined 5.2% versus the comparable period, to $478.54 million, but topped expectations by $4.44 million.

Express's same-store sales fell 4% in the quarter, but this was more than made up for by the 28% rise in e-commerce sales year-over-year. The company’s e-commerce sales accounted for 19% of all sales.

Looking ahead, Express sees Q3 same-store sales down in a low single-digit rate and EPS of $0.06 to $0.10 vs. $0.11 consensus. Guidance for full-year EPS is $0.41 to $0.48 vs. $0.42 consensus.

Express shares were up 23% in afternoon trade.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.