Express' Women's Recovery Is Encouraging, But Turnaround In Early Innings, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Express Inc (EXPR) reported a 6% Y/Y decline in Q2 FY23 sales to $435.34 million, missing the consensus estimate of $440.72 million. However, the adjusted loss per share of $(9.05) beat the consensus estimate of $(11.06). The company is re-assorting its women's business and seeing positive comparable sales across all categories. However, it anticipates continued pressure in its men's business through Q3. The company is also taking aggressive actions to reduce costs, anticipating $80 million of savings in FY23. EXPR shares are trading lower by 3.83% at $8.53.
September 07, 2023 | 7:06 pm
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Express Inc reported a decline in Q2 FY23 sales and anticipates continued pressure in its men's business. However, it is seeing positive sales in its women's business and is taking aggressive cost-cutting measures.
The company's reported decline in sales and anticipated pressure in its men's business are negative indicators that could impact the stock price. However, the positive sales in its women's business and aggressive cost-cutting measures could potentially offset some of these negative impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100