Express Stock Up Over 20%

(RTTNews) - Shares of Express Inc. (EXPR), a fashion apparel retailer, are currently up over 20%, following better-than-expected topline and revenue for the third quarter, and upbeat earnings outlook for the fourth quarter.

Net loss for the third quarter of 2019 was $3.1 million or $0.05 per share compared to net income of $8.0 million or $0.11 per share in the third quarter of 2018. Analysts polled by Thomson Reuters were expecting a loss of $0.09 per share.

Consolidated net sales for the recent third quarter decreased 5% to $488.5 million from $515.0 million in the third quarter of 2018 but came in above analysts' expectation of $483.25 million.

Comparable retail sales, which includes Express stores and e-commerce, decreased 5% compared to the third quarter of 2018. In total, retail sales decreased to $356.8 million from $388.8 million in the third quarter of 2018.

Comparable outlet sales decreased by 5% versus the third quarter of 2018. In total, outlet sales increased to $114.1 million from $108.4 million in the third quarter of 2018.

For the fourth quarter of 2019, the Company expects net income in the range of $10.5 to $13.5 million, or $0.16 to $0.21 per share. The retailer had incurred a net loss of $1.1 million or $0.02 per share in the fourth quarter of 2018.

EXPR is currently trading at $4.79, up 22.59%