Express (EXPR) Misses Q2 EPS by 4c: Comps Miss Estimates; Issues Light Q3, FY16 EPS Outlook

August 24, 2016 6:46 AM EDT
Get Alerts EXPR Hot Sheet
Trade EXPR Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Express (NYSE: EXPR) reported Q2 EPS of $0.13, $0.04 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $504.8 million versus the consensus estimate of $520.95 million.

  • Comparable sales (including e-commerce sales) decreased 8%, compared to a 7% increase in the second quarter of 2015. (The Street was looking for a drop of 4.7 percent.)
  • E-commerce sales declined 7% to $70.1 million.
  • Merchandise margin declined by 200 basis points driven by increased markdowns on clearance items as we focused on positioning our inventory for the fall season. Buying and occupancy as a percentage of net sales rose by 120 basis points. In combination, this resulted in a 320 basis point decline in gross margin, representing 29.9% of net sales compared to 33.1% in last year’s second quarter.


Express sees Q3 2016 EPS of $0.09-$0.15, versus the consensus of $0.32.

Express sees FY2016 EPS of $1.00-$1.14, versus the consensus of $1.46.

For earnings history and earnings-related data on Express (EXPR) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Earnings, Guidance, Hot Earnings, Hot Guidance, Retail Sales

Related Entities


Add Your Comment