Express Inc. (EXPR) reported fourth quarter net income of $0.75 per share Wednesday morning, up from $0.68 per share a year ago. The consensus estimate was for EPS of $0.74. Net sales increased 8% to $728.7 million from $673.2 million last year. Analysts expected revenue of $722.38 million.
The company expects to report first quarter EPS of $0.34 to $0.38 and between $1.40 and $1.54. The consensus estimates are for EPS of $0.46 and $1.72.
Express gapped open sharply lower Wednesday and is now down 1.72 at $17.13 on above average volume. The stock has dropped to a 2-month low and has fallen below its 50-day moving average.
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