Express, Inc. (NYSE:EXPR) stock was on its way up Thursday on a revenue beat for the third quarter of 2017.
During the third quarter of the year, Express, Inc. reported revenue of $498.65 million. This is down from its revenue of $506.09 million reported in the same period of the year prior. However, it was still a boon to EXPR stock by beating out Wall Street’s revenue estimate of $488.73 million for the quarter.
Express, Inc. notes that its comparable sales for the third quarter of 2017 were down by 1% following an 8% increase from the same time last year. The fashion retailer saw its e-commerce sales for the quarter increase by 23% to $118.2 million.
Earnings per share reported by Express, Inc. for the third quarter of the year was 8 cents. This is down from its earnings per share of 15 cents from the same time last year. Despite this decrease, it was still able to match analysts’ earnings per share estimate of 8 cents for the third quarter of 2017.
Operating income for the quarter was $11.2 million, which is down from the $15.1 million reported in the third quarter of 2016. Net income for the third quarter of the year was $6.3 million. Net income from the same quarter in the previous year was $11.6 million.
Express, Inc. also updated its guidance for the full year of 2017 in its most recent earnings report. It is now expecting earnings per share for the year to range from 43 cents to 47 cents. Wall Street is expecting EXPR to report earnings per share of 44 cents for the year.
EXPR stock was up 4% as of noon Thursday, but is down 8% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.