Express Inc shares rose 13% in pre-conference trading, as the retail clothing company reported lower-than-expected losses in the first quarter, while its estimates for the year were higher than those of analysts.
Express recorded a net loss of $ 11.9 million, or 18 cents a share, for the quarter to April 30, compared with a loss of $ 45.7 million, or 70 cents a share, a year ago.
Adjusted losses per share stood at 10 cents, compared to estimates for 13 cents. Sales rose $ 450.9 million from $ 345.8 million a year ago, to $ 436 million analysts had expected.
Express expects comparable sales to increase by 8% -10% for the year, compared to estimates for 8%.
It expects earnings per share to be 24-34 cents and adjusted earnings per share from 14 to 20 cents.
Convergent estimates point to 12 cents per share.
Source: Capital
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