Express (EXPR) Tops Q1 EPS by 8c; Guides Above the Street

Express (NYSE: EXPR) reported Q1 EPS of $0.22, $0.08 better than the analyst estimate of $0.14. Revenue for the quarter came in at $502.4 million versus the consensus estimate of $487.76 million.

Comparable sales (including e-commerce sales) increased 7 percent.

Express sees Q2 2015 EPS of $0.13 - $0.16, versus the consensus of $0.12.

Express sees FY2015 EPS of $1.11 - $1.22, versus the consensus of $1.06.

David Kornberg, the Company's President and Chief Executive Officer, noted that, "2015 is off to a strong start. In the first quarter, comparable sales rose by 7% and our merchandise margin expanded by 200 basis points, driving earnings above our initial expectations. Our customers responded with enthusiasm to our assortment while we intensified our inventory discipline and scaled back our promotional activity. We also continued to execute against our growth pillars and our 2015 priorities. I am particularly pleased that the growth we delivered resulted from our balanced approach to running the business."

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

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