Entry level $5.86 above resistance
Target price $7.25
Short interest 18%
Earnings details
Express (NYSE:EXPR) reports comparable sales declined 5% in Q3, exceeding guidance of -7% to -6%.
Comparable for retail sales and outlet sales fell 5%.
Retail sales down 8.2% to $356.8M whereas outlet sales grew 5.3% to $114.1M.
Gross margin slipped 250 bps to 28.2%.
SG&A expense rate +70 bps to 29.5%.
Inventory dropped ~5% to $345.9M.
The company has repurchased 2.8M shares for $8.7M during the quarter.
Q4 Guidance: Comparable-sales: -1% to -3%; Tax rate: ~26%; Interest income, net: $0.9M; Net income: $10.5M to $13.5M; Diluted EPS: $0.16 to $0.21; Weighted average diluted shares outstanding: 64.8M.
Capital expenditures are expected to be in the range of $35M to $38M for FY2019. Source Seekignalpha
COMPANY PROFILE
Express, Inc. engages as a fashion destination and apparel brand for both women and men. It offers apparel and accessories for work, casual, jeanswear, and going-out occasions. The company was founded in 1980 and is headquartered in Columbus, OH.
Target price $7.25
Short interest 18%
Earnings details
Express (NYSE:EXPR) reports comparable sales declined 5% in Q3, exceeding guidance of -7% to -6%.
Comparable for retail sales and outlet sales fell 5%.
Retail sales down 8.2% to $356.8M whereas outlet sales grew 5.3% to $114.1M.
Gross margin slipped 250 bps to 28.2%.
SG&A expense rate +70 bps to 29.5%.
Inventory dropped ~5% to $345.9M.
The company has repurchased 2.8M shares for $8.7M during the quarter.
Q4 Guidance: Comparable-sales: -1% to -3%; Tax rate: ~26%; Interest income, net: $0.9M; Net income: $10.5M to $13.5M; Diluted EPS: $0.16 to $0.21; Weighted average diluted shares outstanding: 64.8M.
Capital expenditures are expected to be in the range of $35M to $38M for FY2019. Source Seekignalpha
COMPANY PROFILE
Express, Inc. engages as a fashion destination and apparel brand for both women and men. It offers apparel and accessories for work, casual, jeanswear, and going-out occasions. The company was founded in 1980 and is headquartered in Columbus, OH.