Express (EXPR) Sees Decline in Q3 Comps, EPS Coming in Below Expectations

Express, Inc. (NYSE: EXPR) updated its sales and earnings outlook for the third quarter of fiscal 2012, the 13-week period ending October 27, 2012, based on its quarter-to-date performance and expectations for the balance of the period.

The Company currently expects third quarter fiscal 2012 comparable sales to decline in the mid single digit range. Net income for the third quarter of fiscal 2012 is currently expected in the range of $14 million to $17 million, or $0.16 to $0.20 per diluted share on 86.4 million weighted average shares outstanding. The Company expects to report actual third quarter fiscal 2012 results the week of November 26, 2012. The Company plans to update its fourth quarter and fiscal year 2012 guidance when it reports third quarter results in November.

*** The Street is at EPS of $0.29.

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