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Tuesday, January 9, 2018

=Express (EXPR) sees Q4 EPS below consensus

Express sees Q4 EPS below consensus; sees Q4 comps declining by 1-2% 
  • Co issues downside guidance for Q4 (Jan), sees EPS of $0.31-0.33 vs. $0.43 Capital IQ Consensus Estimate. Comparable sales are currently expected to be in the range of -1% to -2%
  • "The fourth quarter was off to a positive start in November and early December, however the key weeks leading up to Christmas were disappointing. Our performance during December was most challenging in our retail stores, where traffic was worse than expected. E-commerce sales quarter to date continue to trend positively, up double-digits versus last year. From a product perspective, dresses and sweaters were the primary drivers of the sales miss relative to our expectations. We have identified the product specific issues and are actively addressing them to improve future performance. On a positive note, January to date sales have stabilized, improving relative to the December trend. That said, based on our holiday performance, we are lowering our fourth quarter and full year 2017 outlook for comparable sales and EPS"

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