=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. 

Earnings this week : Dec 2 - 6, 19 (wk 49)

Monday (Dec 2)

• Morning: DSX
• Afternoon: COUP

Tuesday (Dec 3)

• Morning: BMO DCI GSM LE  QTT
• Afternoon: AVAV HQY MRVL CRM WDAY ZS

Wednesday (Dec 4)

• Morning: BNED CPB GIII JW.A RY
• Afternoon: HOME DSGX ESTC FIVE GEF HRB POWL PGNY RH SMTC WORK SMAR SPWH SNPS TLYS VRNT 

Thursday (Dec 5)

• Morning: BF.B CM DG DLTH EXPR GMS JILL KIRK KLXE KR MEI MIK PDCO SCWX SIG SY TIF TD
• Afternoon: AOBC CLDR COO CRWD DOCU DOMO EZPW GWRE MDLA OKTA PD SAIC ULTA YEXT ZM ZUMZ ZUO

Friday (Dec 6) 

• Morning: BIG GCO  HHR

Notable earnings reports:

• Coupa Software (NASDAQ:COUP) and Diana Shipping (NYSE:DSX) on December 2; 
• Salesforce (NYSE:CRM), Workday (NASDAQ:WDAY), Marvell Technologies (NASDAQ:MRVL) and AutoZone (NYSE:AZO) on December 3; 
• Slack Technologies (NYSE:WORK), Campbell Soup (NYSE:CPB), At Home Group (NYSE:HOME) and Five Below (NASDAQ:FIVE) on December 4; 
• Kroger (NYSE:KR), Lululemon (NASDAQ:LULU), DocuSign (NASDAQ:DOCU), Dollar General (NYSE:DG) and Zoom Video (NASDAQ:ZM) on December 5; 
• Big Lots (NYSE:BIG) and Genesco (NYSE:GCO) on December 6.

Express (EXPR) reported earnings on Wed 13 March 19 (b/o)

** charts before earnings **

 

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Express beats by $0.04, reports revs in-line; guides Q1 EPS below consensus

• Reports Q4 (Jan) earnings of $0.19 per share, excluding costs related to the CEO departure and impairment of our Homage investment, $0.04 better than the S&P Capital IQ Consensus of $0.15; revenues fell 10.2% year/year to $628.4 mln vs the $629.63 mln S&P Capital IQ Consensus.
  • Comparable sales (including e-commerce sales) decreased 6%, compared to a 1% decrease in the fourth quarter of 2017.
• Co issues downside guidance for Q1, sees EPS of ($0.34)-($0.27) vs. ($0.05) S&P Capital IQ Consensus.
  • Q1 Comparable Sales expected to be (9%) to (11%)

Earnings this week : March 11 - 15, 2019 (wk 11)

Earnings confirmed for this week

Monday (March 11)

• Morning: None
• Afternoon: ADT COUP KRO OXFD  PETQ SFIX

Tuesday (March 12)

• Morning: DKS IPI KEYW MOMO NOG 
• Afternoon: APEI CLNE COHU EVRI GH QHC NTRA  SENS SNCR SWCH  TEUM ZAGG ZTO  

Wednesday (March 13)

• Morning: DQ EXPR  LXRX  SGRY VRA
• Afternoon: APYX CLDR DOMO FSM GDS KINS MDB NNBR SFS SMTC TLRD

Thursday (March 14)

• Morning: BIOS CNNE DG ERJ GCO HUD INAP LX PPDF RDNT SND TEN UXIN
• Afternoon:  ADBE ASNA AVGO AVID DOCU HEAR HTHT JBL MRAM NDLS ORCL PVTL TERP TLYS TRQ TUSK ULTA VRAY WSC ZUMZ

Friday (March 15)

• Morning: BIOS BKE CTRN DPLO KIRK MDCA

Express (EXPR) reported earnings on Thur 29 Nov 18 (b/o)

** charts before earnings **

** charts after earnings **

Express beats by $0.01, beats on revs; Q3 comps flat; guides Q4 EPS below consensus; sees Q4 comps declining 5-7%; approves $150 mln share repurchase program

• Reports Q3 (Oct) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.10; revenues rose 2.3% year/year to $515 mln vs the $505.46 mln S&P Capital IQ Consensus.
• Q3 Comparable sales (including e-commerce sales) were 0%, compared to a 1% decrease in the third quarter of 2017.
• On November 28, 2017, the Company's Board of Directors approved a new share repurchase program that authorized the Company to repurchase up to $150 million of the Company's outstanding common stock using available cash.
• Co issues downside guidance for Q4, sees EPS of $0.11-0.20 vs. $0.31 S&P Capital IQ Consensus. Co sees Q4 comps decline of 5-7%.

=Express (EXPR) reported earnings on Thur 31 May 2018 (b/o)

Express beats by $0.03, beats on revs; guides Q2 EPS in-line; guides FY19 EPS in-line 

• Reports Q1 (Apr) earnings of $0.01 per share, $0.03 better than the Capital IQ Consensus of ($0.02); revenues rose 1.1% year/year to $479.4 mln vs the $460.78 mln Capital IQ Consensus.
  • Comparable sales (including e-commerce sales) increased 1%, compared to a 10% decrease in the first quarter of 2017.
    Gross margin improved 200 basis points to 29.9% of net sales compared to 27.9% in last year's first quarter. The improvement was driven by a 90 basis point increase in merchandise margin and a 110 basis point decrease in buying and occupancy costs as a percentage of net sales.
• Co issues in-line guidance for Q2, sees EPS of ($0.02)-$0.02 vs. $0.00 Capital IQ Consensus Estimate.
  • Q2 Comparable Sales -1% to 1%
• Co issues in-line guidance for FY19, sees EPS of $0.37-0.47 vs. $0.41 Capital IQ Consensus Estimate.
  • FY18 Comparable Sales -1% to 1%

=Express (EXPR) sees Q4 EPS below consensus

Express sees Q4 EPS below consensus; sees Q4 comps declining by 1-2% 

• Co issues downside guidance for Q4 (Jan), sees EPS of $0.31-0.33 vs. $0.43 Capital IQ Consensus Estimate. Comparable sales are currently expected to be in the range of -1% to -2%
• "The fourth quarter was off to a positive start in November and early December, however the key weeks leading up to Christmas were disappointing. Our performance during December was most challenging in our retail stores, where traffic was worse than expected. E-commerce sales quarter to date continue to trend positively, up double-digits versus last year. From a product perspective, dresses and sweaters were the primary drivers of the sales miss relative to our expectations. We have identified the product specific issues and are actively addressing them to improve future performance. On a positive note, January to date sales have stabilized, improving relative to the December trend. That said, based on our holiday performance, we are lowering our fourth quarter and full year 2017 outlook for comparable sales and EPS"

=Express (EXPR) reported earnings on Wed 23 August 2017 (b/o)

Express beats by $0.02, reports revs in-line; comparable sales -4% y/y; guides Q3 EPS below consensus; reaffirms FY18 EPS above consensus

• Reports Q2 (Jul) earnings of $0.01 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of ($0.01); revenues fell 5.2% year/year to $478.5 mln vs the $474.11 mln Capital IQ Consensus.
  • Comparable sales (including e-commerce sales) decreased 4%, compared to an 8% decrease in the second quarter of 2016.
  • Closed 40 retail stores, 19 of which were converted to outlets, and opened 4 new outlet stores, as part of continued focus on optimizing the store footprint
• Co issues downside guidance for Q3, sees EPS of 0.06-0.10 vs. $0.11 Capital IQ Consensus Estimate.
  • Comparable Sales Negative low single digits. 
• Co reaffirms guidance for FY18, sees EPS of 0.41-0.48, excluding non-recurring items, vs. $0.42 Capital IQ Consensus Estimate.
  • Comparable Sales Negative low single digits. 
• Mr. Kornberg continued, "As we look ahead to the second half of the year, we are optimistic about our ability to drive further improved performance in a transforming retail industry. We expect the momentum of our initiatives to continue to build and contribute more meaningfully. Our marketing efforts are resulting in improved trends in engagement and we believe they will drive increased customer acquisition and retention. We expect e-commerce sales growth to remain solid and store performance to sequentially improve, driven in part by our expanded omni-channel capabilities. We remain focused on managing our costs and see clear opportunities to enhance the overall efficiency of our business. Our balance sheet remains strong with more than $170 million in cash and no debt, and we continue to expect to generate solid cash flow. Our confidence in our strategy and conviction in our long-term opportunity remains resolute and we are committed to driving shareholder value."

=Express (EXPR) reported earnings on Thur 1 June 17 (b/o)

Express misses by $0.05, reports revs in-line; guides Q2 EPS below consensus; lowers FY18 guidance:

• Reports Q1 (Apr) loss of $0.07 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of ($0.02); revenues fell 7.1% year/year to $467.03 mln vs the $468 mln Capital IQ Consensus.
• Comparable sales (including e-commerce sales) decreased 10%, compared to a 3% decrease in the first quarter of 2016.
• Merchandise margin declined by 380 basis points, driven by increased promotional activity. Buying and occupancy as a percentage of net sales rose by 240 basis points. In combination, this resulted in a 620 basis point decline in gross margin, representing 27.2% of net sales compared to 33.4% in last year's first quarter.
• Inventory was $287.5 million compared to $281.3 million at the end of the prior year's first quarter, a 2% increase.
• Co issues downside guidance for Q2, sees EPS of ($0.03)-$0.01, excluding non-recurring items, vs. $0.07 Capital IQ Consensus Estimate; sees comparable sales to be in the negative mid single digits
• Co lowers guidance for FY18, sees EPS of $0.41-0.48 (Prior $0.65-0.73), excluding non-recurring items, vs. $0.67 Capital IQ Consensus Estimate; sees comparable sales to be in the negative low single digits (Previously saw flat to low single digit growth)
• "We are pleased with the recent trends in our business and believe that our initiatives are gaining traction in a challenging retail environment. E-commerce sales accelerated in the first quarter, increasing 27%, and are on track for another record year. Store performance is also showing sequential progress. This led to a comparable sales improvement as we moved through the first quarter, a trend that has continued into the second quarter."

=Express (EXPR) reported earnings on Wed 8 March 17 (b/o)

Express reports EPS in-line, revs in-line, comps in-line with preannouncement; guides Q1 and FY EPS below consensus :

• Reports Q4 (Jan) earnings of $0.29 per share, in-line with the Capital IQ Consensus of $0.29; revenues fell 11.3% year/year to $678.8 mln vs the $675.07 mln Capital IQ Consensus. 
• On January 10, co lowered Q4 comp guidance to -13% from -LDD; reaffirmed EPS $0.26-0.30.
• Comparable sales (including e-commerce sales) decreased 13%, compared to a 4% increase in the fourth quarter of 2015. E-commerce sales increased 9% to $170.1 million.
• Merchandise margin declined by 330 basis points driven by increased promotional activity. Buying and occupancy as a percentage of net sales rose by 230 basis points. In combination, this resulted in a 560 basis point decline in gross margin, representing 28.4% of net sales compared to 34.0% in last year's fourth quarter. 
• Co issues downside guidance for Q1, sees EPS of ($0.04)-0.00 vs. $0.15 Capital IQ Consensus; comps down high single digits.
• Co issues downside guidance for FY18, sees EPS of $0.65-0.73 vs. $0.87 Capital IQ Consensus; comps flat to up low single digits. 
• "Despite ongoing pressures in the retail sector, our fourth quarter earnings were in line with previously issued guidance. As expected, our store performance continued to be impacted by challenging mall traffic and a promotional retail environment. As our industry adapts to changing consumer preferences, we continue to invest in our omni-channel and marketing capabilities to ensure that we capitalize on this evolution. As a result, e-commerce sales made up 25% of fourth quarter net sales, with sales increasing 9% over the prior year period. We also remain intensely focused on managing our overall cost structure and optimizing our store footprint. Our balance sheet remains strong with more than $200 million in cash and we continue to have solid cash flow."

=Express (EXPR) reported earnings on Thur 12/01/16 (b/o)

 Express reports Q3 results, issues downside guidance:

• Reports Q3 (Oct) earnings of $0.15 vs. $0.13 Capital IQ Consensus, EPS includes a $0.04 tax benefit; revenues rose 27% year/year to $506.1 mln vs the $497.3 mln Capital IQ Consensus.
  • Comparable sales (including e-commerce sales) decreased 8% vs. negative high single to low double digit guidance, compared to a 6% increase in 3Q15.
  • E-commerce sales increased 15% to $96.3 million.
  • Merchandise margin declined by 340 basis points driven by increased promotional activity.
• Issues downside Q4 guidance: Sees Q4 EPS of $0.26 to $0.30 vs. $0.55 Capital IQ Consensus; sees Comparable Sales negative low double digits vs ests near -8%.
• "We expect the holiday season to remain challenging as mall traffic and a highly promotional retail environment continue to be headwinds. That being said, we believe our focus and execution against our key priorities, which include driving improved profitability through a balanced approach to growth, elevating our brand and customer experience, investing in the growth and development of our associates and achieving the benefits from our systems implementations, will position our Company to create shareholder value over the long term."

=Express (EXPR) reported earnings on Wed 8/24/16 (b/o)

Express misses by $0.04, misses on revs; guides Q3 EPS below consensus; lowers FY17 guidance below consensus :

• Reports Q2 (Jul) earnings of $0.13 per share, $0.04 worse than the Capital IQ Consensus of $0.17; revenues fell 5.8% year/year to $504.8 mln vs the $520.81 mln Capital IQ Consensus. 
• Comparable sales (including e-commerce sales) decreased 8% vs. guidance for a mid single digit decline, compared to a 7% increase in the second quarter of 2015. E-commerce sales declined 7% to $70.1 million. 
• Total inventory was down 6% with retail inventory down 9%.
• Merchandise margin declined by 200 basis points driven by increased markdowns on clearance items as we focused on positioning our inventory for the fall season. Buying and occupancy as a percentage of net sales rose by 120 basis points. In combination, this resulted in a 320 basis point decline in gross margin, representing 29.9% of net sales compared to 33.1% in last year's second quarter.
• Co issues downside guidance for Q3, sees EPS of $0.09-0.15 vs. $0.32 Capital IQ Consensus; comps negative high single to low double digits.
• Co issues downside guidance for FY17, lowers EPS to $1.00-1.14 from $1.41-1.54, excluding non-recurring items, vs. $1.46 Capital IQ Consensus; lowers comps to negative high single digits from low to mid single digits. 
• "I am disappointed with our second quarter performance as sales and earnings were below our guidance, reflecting challenging store traffic. This was compounded by a lack of clarity across the assortment. We believe we have identified the necessary actions to position Express to regain momentum and we are moving on them. Our fall assortment is more cohesive across our wearing occasions, clearly identifying the important trends, and we are aggressively pursuing several marketing initiatives focused on driving new customer acquisition and retention. In addition, we are pleased with our overall inventory position as we begin the fall season."

-=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)

Express (EXPR) reported earnings Thur 3 Dec 2015 (before open)

** charts before earnings **

** charts after earnings **

Express beats by $0.02, reports revs in-line; guides Q4 EPS in-line :

• Reports Q3 (Oct) earnings of $0.31 per share, $0.02 better than the Capital IQ Consensus of $0.29; revenues rose 9.8% year/year to $546.6 mln vs the $541.51 mln Capital IQ Consensus.
  • Comps +6% vs. mid single digit guidance.
• Co issues in-line guidance for Q4, sees EPS of $0.60-0.64 vs. $0.61 Capital IQ Consensus; comps up mid single digits.