Express (NYSE:EXPR) earnings for the fashion retailer’s second quarter of 2020 have EXPR stock down on Wednesday. That’s due to its adjusted losses per share of $1.48 missing Wall Street’s estimate of $1.16. Its revenue of $245.7 million also comes in below analysts’ estimates of $257.31 million.
Here’s what else is worth noting from the most recent Express earnings report.
- Adjusted per-share losses are 1,245.5% wider than the 11 cents reported in the second quarter of 2019.
- Revenue for the quarter comes in 48% lower than the $472.72 million reported during the same time last year.
- Operating loss of $136.29 million is a 1,296.4% worse result year-over-year from $9.76 million.
- The Express earnings report also has net loss coming in at $107.77 million.
- That’s a 1,011% increase in net loss compared to $9.7 million in the same period of the year prior.
Tim Baxter, CEO of Express, said this in the current earnings report.
“I am encouraged by the momentum in our eCommerce business, the strong response to our August fashion deliveries, and the increase in customer engagement with our brand messages. While mall traffic continues to be challenging, I would expect our results to improve as we move through the back half of the year.”
Express isn’t providing earnings per share or revenue guidance for Q3 or the full year of 2020. The company cites the novel coronavirus as behind this decision. Many other companies are likewise withholding outlooks at this time.
EXPR stock was down close to 1% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.