E-commerce sales rose 15% to $96.3M.
Gross margin rate decreased 500 bps to 30%.
Merchandise margins declined 340 bps due to increased promotional activity.
SG&A expense rate +20 bps to 27%.
Operating margin rate squeezed 510 bps to 3%.
Inventory -6% to $341.9M.
Store count +5 Q/Q to 653.
Q4 Guidance: Comparable sales: Negative low double digits; Tax rate: ~39%; Interest expense, net: $0.7M; Net income: $20M to $23M; Diluted EPS: $0.26 to $0.30; Shares outstanding: 78.8M; Store count: 656.
FY2016 Guidance: Comparable sales: Negative high single digits; Tax rate: ~37%; Interest expense, net: $13.5M; Net income: $55M to $58M; Adjusted net income: $62M to $65M; Diluted EPS: $0.70 to $0.74; Adjusted EPS: $0.78 to $0.82; Shares outstanding: 79.1M; Capex: $100M to $105M; Store count: 656.
EXPR -13.92% premarket.