EXPRESS (EXPR) 2Q18 Results: Beats Estimates and Raises Guidance

Executive Summary

• Express reported 2Q18 EPS of $0.03, beating the consensus estimate of breakeven. Revenues were $493.6 million, up by 2.6% year over year and beating the consensus estimate of $483.5 million.
• Comps were up 1%, beating the consensus estimate of down 0.1%.
• For the full year, the company raised comp guidance to +0–1% from down 1% to up 1% and raised EPS guidance to $0.43–$0.49 from $0.32–$0.46 previously.