Express (EXPR) Reaffirms Q4 Guidance

In advance of its presentation at the 19th Annual ICR Conference, Express, Inc. (NYSE: EXPR) reaffirmed its earnings per share (EPS) guidance for the fourth quarter and full year 2016 ending January 28, 2017, based on its performance during the 2016 holiday season and its expectations for the balance of the period.

David Kornberg, Express, Inc.'s president and chief executive officer, commented: "Based on our holiday results, we are reaffirming our fourth quarter and full year EPS guidance. Our store performance continues to be impacted by challenging mall traffic trends and a more promotional retail environment. However, we remain pleased with our e-commerce sales performance, which continues to trend positively year-over-year."

2016 Guidance:

Fourth Quarter:

Comparable sales are currently expected to be negative 13%. The Company continues to expect net income to be in the range of $20 to $23 million and diluted earnings per share to be in the range of $0.26 to $0.30 on 78.8 million weighted average shares outstanding. (*** EPS consensus is $0.29)

Full Year:

Comparable sales are expected to be negative 9%. Net income is expected to be in the range of $55 to $58 million, or $0.70 to $0.74 per diluted share. Adjusted net income is expected to be in the range of $62 to $65 million, or $0.78 to $0.82 per diluted share on 79.1 million shares outstanding. Adjusted net income excludes approximately $11.4 million, or $6.9 million net of tax benefit, of non-core operating items related to an amendment to the Times Square Flagship store lease. (*** EPS consensus is $0.82)

Consistent with past practice, this guidance excludes any additional non-core operating items that may occur.

The Company expects to report fourth quarter and full year 2016 results during the week of March 6, 2017.

ICR Conference:

The Company will present at the 19th Annual ICR Conference being held at the JW Marriott Orlando Grande Lakes in Orlando, Florida on January 10, 2017 at 4:00 p.m. Eastern Time (ET). David Kornberg, president and chief executive officer, and Perry Pericleous, senior vice president and chief financial officer, will host the presentation and Mark Rupe, vice president of investor relations, will be in attendance. The Company’s investor presentation will be posted on the Express website by 7:00 a.m. ET on Tuesday, January 10, 2017 and the conference presentation will be webcast live and available for replay for 30 days at www.express.com/investor.

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