-=Express (EXPR) reported earnings Wed 25 May 2016 (b/o)

Express misses by $0.02, misses on revs; guides Q2 EPS below consensus; guides FY17 EPS below consensus :

Reports Q1 (Apr) earnings of $0.25 per share, $0.02 worse than the Capital IQ Consensus of $0.27; revenues rose 0.1% year/year to $502.91 mln vs the $521.32 mln Capital IQ Consensus. Comparable sales (including e-commerce sales) decreased 3% vs. guidance for up low single digits.

• Inventory was $281.3 million compared to $265.9 million at the end of the prior year's first quarter, and includes approximately $58.6 million related to Express Factory Outlet stores this year compared to approximately $35.4 million in the prior year's first quarter. Retail inventory decreased by 3% in the aggregate.
• Co issues downside guidance for Q2, sees EPS of $0.15-0.19 vs. $0.29 Capital IQ Consensus Estimate; sees comps down mid single digits.
  Co lowers guidance for FY17, sees EPS of $1.41-1.54 (Prior $1.56-1.71) vs. $1.66 Capital IQ Consensus Estimate; sees comps down mid to low single digits (Previously guided for up low single digits)