=Express (EXPR) reported earnings on Thur 5 Dec 19 (b/o)

Express beats by $0.06, beats on revs; guides Q4 EPS above consensus; Q3 comps -5%

Reports Q3 (Oct) loss of $0.03 per share, $0.06 better than the S&P Capital IQ Consensus of ($0.09); revenues fell 5.1% year/year to $488.5 mln vs the $483.25 mln S&P Capital IQ Consensus.

Co issues upside guidance for Q4, sees EPS of $0.16-0.21 vs. $0.12 S&P Capital IQ Consensus. Co sees Q4 comp sales decline of 1-3% vs a decline of 6% in the same quarter as last year.

Comparable retail sales, which includes both Express stores and e-commerce, decreased 5% compared to the third quarter of 2018. In total, retail sales decreased to $356.8 mln from $388.8 mln in the third quarter of 2018. Comparable outlet sales decreased 5% versus the third quarter of 2018. In total, outlet sales increased to $114.1 mln from $108.4 mln in the third quarter of 2018.

"While we are certainly not satisfied with our results, sequential improvement over the last two quarters, and throughout the third quarter is compelling evidence that the immediate changes we have been able to make to our product, merchandising and marketing approach are resonating with customers," said Tim Baxter, Chief Executive Officer.