Express misses 3Q profit forecasts

Markets Associated Press

Express Inc. (EXPR) on Thursday reported fiscal third-quarter net income of $11.6 million.

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The Columbus, Ohio-based company said it had profit of 15 cents per share. Earnings, adjusted for pretax gains, were 11 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The clothing and accessories chain posted revenue of $506.1 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $498 million.

Express expects full-year earnings in the range of 78 cents to 82 cents per share.

Express shares have dropped 23 percent since the beginning of the year. The stock has fallen 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXPR at https://www.zacks.com/ap/EXPR

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Keywords: Express, Earnings Report