Last $15.61 USD
Change Today -0.26 / -1.64%
Volume 1.0M
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As of 6:40 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

express inc (EXPR) Key Developments

Sycamore Reportedly Eyes To Acquire Express

Express Inc. (NYSE:EXPR) looks cheap, likely to be acquired by Sycamore, Barron's says. Shares of Express have declined 30% since their highs of last year, while same-store sales have decreased for the past two quarters and profit margins have deteriorated.

Express Inc. Expects to Open New Stores; Expects to Close Stores

For the third quarter of 2014, Express Inc. expects to open 13 new stores and expects to close 3 stores. For the full year 2014, the company expects to open 27 new stores and expects to close 20 stores.

Express Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014; Provides Earnings Guidance for the Third Quarter and Full Year 2014

Express Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 2, 2014. For the quarter, the company reported net sales of $481,420,000 against $490,075,000 a year ago. Operating income was $14,608,000 against $33,415,000 a year ago. Income before income taxes was $8,645,000 against $28,063,000 a year ago. Net income was $6,867,000 against $16,909,000 a year ago. Basic and diluted earnings per share were $0.08 against $0.20 a year ago. Capital expenditures were $32.5 million compared to $29 million last year. The increase was primarily due to investments in information technology and outlet stores. For the six months, the company reported net sales of $942,072,000 against $999,437,000 a year ago. Operating income was $29,599,000 against $92,109,000 a year ago. Income before income taxes was $17,764,000 against $81,723,000 a year ago. Net income was $11,950,000 against $49,346,000 a year ago. Basic and diluted earnings per share were $0.14 against $0.58 a year ago. Net cash provided by operating activities was $4,805,000 against $36,533,000 a year ago. Capital expenditures were $59,466,000 against $45,538,000 a year ago. The company provided earnings guidance for the third quarter and full year 2014. For the third quarter of 2014, the company expects comparable sales to be negative mid to low single digits. Interest expense, net is expected to be approximately $6 million. Effective tax rate is expected to be approximately 40%. Net income is expected to be $11 million to $15 million. Diluted earnings per share are expected to be $0.13 to $0.18. For the full year of 2014, the company expects comparable sales to be negative mid single digits. Interest expense, net is expected to be approximately $24 million. Effective tax rate is expected to be approximately 39%. Net income is expected to be $72 million to $80 million. Diluted earnings per share are expected to be $0.85 to $0.95. Capital expenditures are expected to be $110 million to $115 million.

Express Inc. to Report Q2, 2015 Results on Aug 27, 2014

Express Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Aug 27, 2014

Express Inc., Q2 2015 Earnings Call, Aug 27, 2014

Express Inc., Q2 2015 Earnings Call, Aug 27, 2014

 

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Industry Analysis

EXPR

Industry Average

Valuation EXPR Industry Range
Price/Earnings 16.9x
Price/Sales 0.6x
Price/Book 2.7x
Price/Cash Flow 16.9x
TEV/Sales 0.4x
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