Express Q3 Profit Declines, But Beats View - Quick Facts

(RTTNews) - Clothing retailer Express, Inc. (EXPR) reported third-quarter earnings of $14.6 million or $0.17 per share, compared to $19.3 million or $0.23 per share a year earlier. On average, sixteen analysts polled by Thomson-Reuters expected the company to report earnings of $0.16 per share. Analysts' estimates typically exclude one-time items.

Quarterly net sales declined 1% to $497.61 million, from $503.81 million last year a year earlier. Wall Street expected sales of $499.74 million.

Comparable sales during the quarter declined 5 percent, the company said in a statement.

Looking ahead, to the third quarter, Express, Inc. expects earnings of $0.38 and $0.45 per share, and comparable sales in negative mid to high single digits.

For the full year 2014, the company lowered its annual earnings target to $0.69 and $0.76 per share, from the previously projected range of $0.85 to $0.95 per share.

The company now expects its annual comparable sales outlook of negative mid to high single digits.

Analysts expect third quarter earnings of $0.60 per share, and full year earnings of $0.89 per share.