Express (EXPR) lowers its forecast for Q3, saying trends worsened abruptly in September. The company now expects Q3 fiscal comparable sales to decline in the mid single digit range and EPS to land in a range of $0.16-$0.20, well below the consensus mark that analysts were calling for of $0.29. The retailer warns it had to increase promotional activity to maintain its inventory discipline. Shares -19.2% premarket.
Express (EXPR) lowers its forecast for Q3, saying trends worsened abruptly in September. The...
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