More on Express (EXPR): Cites increased promotional activity in the latter part of the quarter....

|By:, SA News Editor

More on Express (EXPR): Cites increased promotional activity in the latter part of the quarter. Gross margin as a percentage of sales slipped 140 bps to 32.2%. Expects Q3 comparable sales to be flat to up low single digits. Lowers outlook for FY12 EPS below the consensus mark of analysts to $1.69-$1.79, from prior guidance of $1.79-$1.89. (PR)