Express Inc. Increases Q4 And Full Year Guidance - Quick Facts

(RTTNews) - Express, Inc. (EXPR), a specialty retail apparel chain, updated its guidance for the fourth quarter and full year 2015 ending January 30, 2016, based on its performance during the 2015 holiday season and its expectations for the balance of the period.

For the fourth-quarter, the company expects net income to be in the range of $53 to $55 million, or $0.63 to $0.65 per share. Comparable sales are expected to increase by three percent. This compares to the company's previous guidance of a low single digit comparable sales increase and net income of $50 to $54 million, or $0.60 to $0.64 per share. For full year, the company expects net income to be in the range of $113 to $115 million, or $1.34 to $1.36 per share. Adjusted net income is expected to be in the range of $119 to $121 million, or $1.41 to $1.43 per share. This compares to the company's previous guidance of net income of $110 to $114 million, or $1.31 to $1.35 per share, and adjusted net income of $116 to $120 million, or $1.38 to $1.42 per share. Full year comparable sales are still expected to increase in the mid-single digit range.

David Kornberg, Express, Inc.'s CEO, said: "The solid performance we experienced over Thanksgiving continued through December and into early January as customers responded enthusiastically to our assortment."