Express Q4 Profit Down, But Results Top Estimates; Stock Up

(RTTNews) - Express, Inc. (EXPR) reported that its net income for the fourth quarter of 2014 declined to $41.8 million or $0.49 per share, from $47.9 million or $0.57 per share, in the fourth quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

But, net sales increased to $725.8 million from $715.9 million in the fourth quarter of 2014, an increase of 1%. Wall Street expected revenues of $712.94 million.

Comparable sales during the quarter (including e-commerce sales) decreased 2% against a comparable sales increase of 1% in last year's fourth quarter. E-commerce sales rose 4% to $144.3 million.

For the First quarter 2015, the company expects net income to be in the range of $3 million to $6 million or $0.04 - $0.07 per share, Adjusted Net Income of $9 million to $12 million or $0.11 - $0.14 per share, and Comparable Sales growth of Low to mid single digits. Analysts expect the company to report earnings of $0.11 per share for the first-quarter.

Looking ahead for fiscal 2015, the company projects net income to be in the range of $73 million - $85 million or $0.86 - $1.00 per share, Adjusted Net Income of $79 million - $91 million or $0.93 - $1.07 per share, and Comparable Sales growth of Low single digits. Analysts expect annual earnings of $0.99 per share.

EXPR closed Tuesday's trading at $14.95. In Wednesday's pre-market trading, the company's shares are up $1.00 or 6.69% to $15.95.