Express posts FY19 sales of $2,019 million

Express Inc, a leading fashion retailer, posted 5 per cent decrease in its sales to $2,019 million in full fiscal 2019 ended on February 1, 2020 compared to $2,116 million in prior year. Sales in fourth quarter (Q4) FY19 fell 3 per cent to $606.7 million compared to $628.4 million in same period prior year. Net loss over the year was $164.4 million.

 

Express Inc, a leading fashion retailer, posted 5 per cent decrease in its sales to $2,019 million in full fiscal 2019 ended on February 1, 2020 compared to $2,116 million in prior year. Sales in fourth quarter (Q4) FY19 fell 3 per cent to $606.7 million compared to $628.4 million in same period prior year. Net loss over the year was $164.4 million.#

“Our results show the third consecutive quarter of sequential improvement in our comp sales trend, as the actions we have taken in the early stages of our transformation are resonating with customers,” Tim Baxter, chief executive officer, said in a press release.

 

Express Inc, a leading fashion retailer, posted 5 per cent decrease in its sales to $2,019 million in full fiscal 2019 ended on February 1, 2020 compared to $2,116 million in prior year. Sales in fourth quarter (Q4) FY19 fell 3 per cent to $606.7 million compared to $628.4 million in same period prior year. Net loss over the year was $164.4 million.#

Operating loss in the year was $217.9 million compared to operating profit of $28.2 million in prior year. Selling, general, and administrative expenses (SG&A) in FY19 was $564.3 million compared to $587.3 million prior year.

 

Express Inc, a leading fashion retailer, posted 5 per cent decrease in its sales to $2,019 million in full fiscal 2019 ended on February 1, 2020 compared to $2,116 million in prior year. Sales in fourth quarter (Q4) FY19 fell 3 per cent to $606.7 million compared to $628.4 million in same period prior year. Net loss over the year was $164.4 million.#

Operating loss in the quarter was $189.8 million compared to $4.3 million in same period prior year. SG&A expenses in Q4 FY19 was $148.9 million compared to $160.7 million in Q4 FY18. 

 

Express Inc, a leading fashion retailer, posted 5 per cent decrease in its sales to $2,019 million in full fiscal 2019 ended on February 1, 2020 compared to $2,116 million in prior year. Sales in fourth quarter (Q4) FY19 fell 3 per cent to $606.7 million compared to $628.4 million in same period prior year. Net loss over the year was $164.4 million.#

“While there is certainly volatility surrounding the coronavirus, our lean inventory position gives us the flexibility to invest appropriately in new product in response to business trends in the coming months,” Baxter said.