Businessweek

Express, Inc., a specialty apparel and accessory retailer, provides both women's and men's merchandise. The company targets women and men between 20 and 30 years old. Products The company offers its customers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of their lifestyles, including work, casual, jeanswear, and going-out occasions. Stores As of February 2, 2013, the company operated 625 stores across the United States, in Canada, and in Puerto Rico. Its stores are located in high-traffic shopping malls, lifestyle centers, and street locations in 47 states across the United States, as well as in the District of Columbia, Puerto Rico, and 2 provinces in Canada. The company also sells its products through its e-commerce Website, such as express.com, and has franchise agreements with franchisees who operate Express stores in Latin America and the Middle East. Growth Strategy Primary elements of the company’s business and growth strategies include improving sales and margins of its existing retail stores; expanding its store base; expanding its e-commerce platform; and expanding internationally. Intellectual Property The Express trademark and certain variations thereon, such as Express World Brand, are registered or are subject to pending trademark applications with the United States Patent and Trademark Office and/or with the registries of various foreign countries. In addition, the company owns domain names, such as express.com, including its primary trademarks. Seasonality In 2012, approximately 56% of the company’s net sales were generated in the Fall season (third and fourth quarters) (year ending December 2012), while approximately 44% were generated in the Spring season (first and second quarters). Cash needs are higher in the first and third quarters due to inventory-related working capital requirements for early Fall and holiday selling periods. History Express, Inc. was founded in 1980.