Express, Inc. (NYSE:EXPR) surprised many investors and analysts today, reporting a third quarter earnings beat. While consensus estimates for the quarter came it at $0.29 per share, the company surprised on the upside, reporting $0.31 per share. The stock is trading up $1.18 or 6.78% in the pre-market.
Below you will find some of the highlights of this morning’s report by Express, Inc. (NYSE:EXPR):
– Comparable sales increased a total of 6%
– Sales have increased 10% to $546.6 million on the quarter Compared to $497.6 million in last year’s third quarter
– Gross margin increased 330 basis points
– Operating income rose to $44.5 million
– Diluted EPS rose 82%
The stock increased 2.65% or $0.45 during the last trading session, hitting $17.41. About 2,057 shares traded hands. EXPR has risen 6.69% since April 30, 2015 and is uptrending. It has outperformed the S&P500 by 6.89%.
Express, Inc. is a specialty apparel and accessories retailer offering both women’s and men’s merchandise, targeting the 20 to 30 year old customer. The company has a market cap of $1.44 billion. The Firm offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeans wear and going-out occasions. It has 16.28 P/E ratio. The Firm operates one segment, which includes the operation of its brick-and-mortar retail and outlet stores, e-commerce activities and franchise operations.