Express In The Four Quarter, Less Than Expected Before The Market Plunged Nearly 20%

U.S.A Apparel retailer ExpressInc. (NYSE:EXPR) earnings per share for the fourth quarter were US $0.57, reaching the lower limit of US $0.57 -0.60 expected to be lowered. Pre market ExpressInc. (NYSE:EXPR) share price fell nearly 20%, and by the end of the release time, it dropped by 18.31% to $14.90.

As of the four quarter of February 2, 2014, Express Net sales of Inc. (NYSE:EXPR) were recorded at $715 million 900 thousand, down 2.2% from $731 million 700 thousand a year earlier, and 1% of the same store sales, including e-commerce, including 14% to 138 million 800 thousand US dollars in online sales, and 300 base points to 32% in the fourth quarter.

Operating profit fell to 23.33%, down from US $111 million 400 thousand in the same period last year to US $85 million 420 thousand, and the operating profit margin dropped to 330 basis points to 11.9%. The net profit in the fourth quarter was $47 million 926 thousand, slightly lower than the previous estimate of US $48 million -5200 million, down 25.05% from 63 million 943 thousand US dollars a year earlier.

Because Promotion Serious and declining passenger traffic resulted in poor Christmas sales. US apparel retailer ExpressInc. (NYSE:EXPR) lowered its four quarter forecast in mid January 2014, while expecting a full year return. It expects net profit of 117 million US $-1.21 billion in the 2013 fiscal year as of February 1, 2014, which was expected to be 124 million US $-1.28 billion. The expected annual earnings per share of US $1.37 were US $-1.41, which was expected to be US $1.46 US dollars, while ExpressInc. (NYSE:EXPR) net profit of US $116 million 500 thousand was also slightly worse than expected.

Net sales of ExpressInc. (NYSE:EXPR) increased by 2.9% to $2 billion 219 million 100 thousand in the 2013 fiscal year ended February 1, 2014, up 2 billion 157 million 200 thousand US dollars in the same period last year, 3% in the same store sales, and 25% in e-commerce sales to 340 million 600 thousand US dollars. Gross profit margin of ExpressInc. (NYSE:EXPR) fell to 32.3% from 210 in the previous year to 32.3%, and operating profit plunged 14.8% to $214 million 300 thousand, compared with 251 million 600 thousand US dollars in the same period last year.

ExpressInc. (NYSE:EXPR) expects earnings in the first quarter of fiscal year 2014 to be US $0.12 to $0.18 per share, with earnings of US $1.03 to US $1.23 per share, far below analysts' expectations.