The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
COLUMBUS, United States — Express Inc. on Wednesday reported fiscal second-quarter net income of $10.1 million.
The Columbus, Ohio-based company said it had net income of 13 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The clothing and accessories chain posted revenue of $504.8 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $524.8 million.
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Express expects full-year earnings in the range of $1 to $1.14 per share.
Express shares have declined 7 percent since the beginning of the year. The stock has decreased 4 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.