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EXPR

Express

$13.36

-0.12 (-0.89%)

06:52
12/01/16
12/01
06:52
12/01/16
06:52

Express CEO says 'expects the holiday season to remain challenging'

David Kornberg, the company's president and CEO, stated: "Our third quarter performance was highlighted by sales and earnings in line with our guidance and progress made addressing the areas noted for improvement during our second quarter call. This progress included refocusing our brand projection and marketing to be more consistent with our core demographic and additional steps taken to drive customer acquisition and retention. Notably, while mall traffic challenges continued to impact our store performance, we achieved a double digit increase in e-commerce sales." Kornberg, continued: "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."

  • 01

    Dec

  • 09

    Jan

EXPR Express
$13.36

-0.12 (-0.89%)

08/24/16
WEDB
08/24/16
DOWNGRADE
WEDB
Neutral
Express downgraded to Neutral from Outperform at Wedbush
08/24/16
PIPR
08/24/16
DOWNGRADE
PIPR
Neutral
Express downgraded to Neutral from Overweight at Piper Jaffray
08/24/16
KING
08/24/16
DOWNGRADE
KING
Neutral
Express downgraded to Neutral from Buy at CL King
08/25/16
UBSW
08/25/16
DOWNGRADE
Target $10
UBSW
Sell
Express downgraded to Sell from Neutral at UBS
UBS analyst Michael Binetti downgraded Express to Sell and lowered its price target to $10 from $16. The analyst sees downside earnings risk despite the lowered guidance given deteriorating traffic, August traffic trends that he believes are running at the low end, product issues, and potential margin pressure as the company steps up direct mail marketing in 2H 2016.

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Equifax

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CSGP

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