Express Gains Momo-mentum
Express has been barreling down the tracks in the wrong direction for some time. But today, the stock is popping after reporting earnings and inking a new joint venture with WHP.
On the revenue front, the retailer saw Q3 sales fall 8% YoY to 434.1 million, falling short of the $451.77 million expected. Comparable sales, including Express stores and eCommerce, were down 11%, as online demand fell 17%. Comparable outlet store sales were flat as consumers traded down to lower price points. 🔻