Wednesday, March 8, 2017

Express shares fall 14% as store's results are hurt by discounts and fewer mall shoppers

Image result for express storeShares of Express Inc. fell 14% as the apparel chain said Wednesday that discounting and fewer mall shoppers hurt its fourth-quarter results.

The company also announced plans to offer a better selection of merchandise.

In the fourth quarter of 2016, net sales decreased 11% to $678.8 million from $765.6 million a year earlier. Comparable sales, which includes e-commerce, slid 13% versus the 4% increase in the fourth quarter of 2015. . . . more

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