Welcome to our dedicated page for EXPRESS news (Ticker: EXPR), a resource for investors and traders seeking the latest updates and insights on EXPRESS stock.
Express Inc (NYSE: EXPR) provides investors and industry professionals with centralized access to official corporate communications and market-moving developments. This resource aggregates press releases, financial filings, and strategic announcements from the fashion retailer known for its contemporary apparel and omnichannel retail strategy.
Users can efficiently track earnings reports, partnership announcements, and operational updates critical for understanding EXPR's position in the competitive fashion sector. The curated collection emphasizes material developments affecting corporate strategy, including store network changes, e-commerce initiatives, and leadership transitions.
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Express, Inc. (NYSE: EXPR) has launched its #ExpressReentry campaign, encouraging customers to share their summer outfit plans on TikTok. Participants can use the hashtag #ExpressReentry and potentially win gift cards by impressing fashion expert Tan France. The campaign runs from May 17 to May 27 and aims to engage customers as they return to pre-pandemic activities. With over 500 retail locations and a strong online presence, Express focuses on versatility and self-expression in fashion, aiming to inspire confidence in its customers.
Express, Inc. (NYSE: EXPR) reported its Q4 and full-year 2020 financial results, revealing a 29% drop in Q4 net sales to $430.3 million and a 40% annual decrease to $1.208 billion. The company faced a net loss of $53.3 million in Q4, improving from $141.6 million in 2019, while full-year losses reached $405.4 million. SG&A expenses decreased but still represented 31.1% of net sales. The company anticipates sequential sales improvements and a return to positive EBITDA in the latter half of 2021, supported by a new $140 million loan and initiatives to enhance its eCommerce strategy.
Express, Inc. (NYSE: EXPR) has announced a conference call scheduled for March 10, 2021 at 8:30 a.m. ET to discuss its fourth quarter 2020 financial results. A press release detailing these results will be issued on the same day. The call will be led by Tim Baxter, CEO, and Perry Pericleous, CFO. Interested participants can join the call by dialing (877) 683-0508 or via webcast. A playback will be available afterward for a week. Express operates over 500 retail locations in the U.S. and Puerto Rico, offering versatile apparel and accessories.
Express, Inc. (NYSE: EXPR) announced it has regained compliance with the NYSE's listing standards as of January 29, 2021, following a period of non-compliance due to its stock price falling below $1.00 per share. The company received a notification from the NYSE on September 29, 2020, regarding this issue. After maintaining an average closing stock price above $1.00 for 30 consecutive trading days, Express has successfully met the exchange's requirements.
Express, Inc. (NYSE: EXPR) has secured a $140 million loan agreement led by Sycamore Partners, with participation from Wells Fargo and Bank of America Merrill Lynch, enhancing its liquidity. This financing comprises a $90 million FILO Term Loan and a $50 million Delayed Draw Term Loan, aimed to be repaid upon receiving a CARES Act tax refund anticipated in Q2 2021. This adds to Express's existing $250 million asset-based loan facility, of which $165 million has already been drawn. CEO Tim Baxter stated this capital will support operations during the pandemic and assist in ongoing strategic initiatives.
Express, Inc. (NYSE: EXPR) reported a 34% decline in consolidated net sales, totaling $322.1 million for Q3 2020, compared to $488.5 million in Q3 2019. The operating loss was $110.9 million, a significant increase from a $6.7 million loss last year. The gross margin shrank to 4.3% of net sales due to COVID-19 impacts and an $8.4 million impairment charge. The company expects to realize $550 million in liquidity benefits, including a $95 million cash tax refund in Q2 2021. A 10% workforce reduction aims to yield $13 million in annual savings.
Express, Inc. (NYSE: EXPR) announced a conference call scheduled for December 3, 2020, at 8:30 a.m. ET to discuss its third quarter 2020 results. The press release detailing these results will be available that morning. The call will be hosted by CEO Tim Baxter and CFO Perry Pericleous. Interested participants can join via telephone or listen to the webcast, which will be accessible for 90 days. An investor presentation will also be made available at 7:00 a.m. ET on the same day.
Express, a leading fashion apparel retailer, announced its participation in a fireside chat on October 15, 2020, at 11:30 a.m. Eastern Time. CEO Tim Baxter will discuss the company's fall assortment in a session hosted by Dana Telsey from Telsey Advisory Group. The event will be available for live webcast and replay for 90 days. Express operates over 500 stores across the U.S. and Puerto Rico and emphasizes style, quality, and value in its offerings. More information can be found on their investor relations website.
Express, Inc. (NYSE: EXPR) announced its non-compliance with NYSE listing criteria due to a share price below $1.00 for 30 consecutive trading days. The notice, received on September 29, 2020, allows the company six months to rectify this, during which its stock remains listed. Options to regain compliance include a potential reverse stock split. Despite this issue, the company’s ongoing business operations are unaffected. CEO Tim Baxter expressed confidence in the company's strategic transformation, driven by positive consumer response and significant cost-saving measures.
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