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Express to close 100 stores by 2022, narrows Q4 forecast

27 days ago   |   By Fashion United

Announcing Expressway Forward corporate strategy to drive profitable growth, Express inc has said that the company expects to close approximately 100 stores by 2022 including nine stores that have already closed in 2019, 31 by the end of January 2020, and an additional 35 by the end of January 2021. The company added that comparable sales are currently expected to be approximately down 3 percent, adjusted net income to be in the range of 11 to 12.5 million dollars and adjusted diluted earnings per share to be in the range of 17 cents to 19 cents.
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Express Closing Stores, Cutting Costs to Revive Profitability

Express Closing Stores, Cutting Costs to Revive Profitability

27 days ago   |   By WWD

Express Inc. plans to close 100 stores by 2022 and realize $80 million in cost reductions over the next three years as part of a new turnaround strategy dubbed “The EXPRESSway Forward.”
The strategy, to be disclosed at the specialty retailer's investor presentation today, is designed to return the once dominant fashion specialty chain to mid-single-digit operating margins.
The $2 billion Express operates a total of about 600 stores and outlets and a web site, and sells apparel and accessories for young women and men for work, casual wear and going-out occasions.
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