Express Group'S Two Quarter Profit Fell 59% To Raise Annual Expectations
group
At the same time, the interval of annual earnings per share was raised from the previous 0.74-0.90 US dollar to 0.85-0.95 US dollars, exceeding the market expected 0.81 US dollars.
News stimulated Express Inc. (NYSE:EXPR) shares rose by 16% to 16.95 dollars on Wednesday.
The two quarter
The total net sales amounted to $481 million 400 thousand, higher than the market forecast of US $464 million, a year-on-year decrease of 1.8%, and the same store sales also fell by 5% on a year-on-year basis. The gross margin fell by 280 basis points to 28.3%.
The Group expects that the current three quarter earnings per share will be in the range of US $0.13-0.18, which is in line with market expectations of US $0.16.
Express Inc. (NYSE:EXPR) represents the acquisition intention of Sycamore Partners, a private equity fund company holding 9.9% of the group's shares.
group
Share repurchase and debt refinancing were not carried out in the two quarter.
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