Express Inc (NYSE: EXPR) shares are trading higher Wednesday after the company reported better-than-expected top-line results and raised full-year guidance.
Express said first-quarter revenue increased 30% year-over-year to $480.8 million, which beat the estimate of $435.74 million, according to data from Benzinga Pro. The company reported a quarterly loss of 10 cents per share, which may not compare to estimates for earnings of 15 cents per share.
"I am energized by our momentum and this is reflected in our increased annual outlook," said Tim Baxter (NYSE:BAX), CEO of Express.
Express raised its full-year comparable sales outlook to an increase of 8% to 10%. The company expects full-year adjusted earnings to be between 14 cents and 20 cents per share.
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EXPR Price Action: Express shares have traded between $2.33 and $8.67 over a 52-week period.
The stock was up 10.9% at $2.64 at time of publication.
Photo: Mike Mozart from Flickr.
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