Express lowers guidance after weak store traffic

Express (EXPR) says it experienced an unexpected drop in traffic following Thanksgiving which forced it to take a promotional stance through January.

The company says it now expects Q4 comparable-store sales growth of 0% to low single digits.

Guidance for Q4 is lowered to $1.37-$1.51, from a prior outlook of $1.46-$1.51.

EXPR -3.3% premarket

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