Fashion retailing company Express Inc (NYSE:EXPR) was one of the companies which was in focus among investors yesterday after it announced its financial results for the first fiscal quarter of the year. The numbers delivered by the company seemed to have impressed investors as well and the stock went on a rally to end the day with gains of as much as 7%.
Trading Data
On Wednesday, EXPR stock gained 6.72% to $2.54 with more than 11.65 million shares, compared to its average volume of 3.03 million shares. The stock moved within a range of $2.3000 – 2.6800 after opening trading at $2.63.
Earnings Recap
The company managed to spring an earnings surprise by limiting its loss per share to only 10 cents and trumped analysts’ expectations of a loss per share of 15 cents. In addition to that, it also marked a major improvement on the loss per share of 58 cents in the prior-year period.
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In addition to that, Express managed to bring in revenues of $450.78 million, which also surpassed analysts’ expectations of $435.74 million. While that was a major development, the revenue figure also reflected a healthy rise on a year-on-year basis. In the prior-year period, the company had managed to bring in revenues of $345.76 million, and hence, it worked out to a year-on-year rise of 30%. It now remains to be seen if the stock can add to its gains today.
Key Quote
“Our first-quarter results exceeded our expectations. We delivered positive comparable sales of 31%, double-digit positive comparable sales in every major category and every channel, and we recorded the highest number of active loyalty program members in the Company’s history,” said Tim Baxter, Chief Executive Officer.
Technical Data
EXPR stock is trading below the 20-Day and 50-Day Moving averages of $3.30 and $3.42 respectively. Moreover, the stock is trading below the 200-Day moving average of $4.07.
