Express, Inc. (EXPR), a company that offers apparel and accessories for women and men for various occasions, has slightly increased by 0.96% in aftermarket trading session. As a result, EXPR stock is trading at $3.17 at the time of the writing. On Thursday, EXPR closed the day at $3.14 after increasing by 2.95% during regular trading hours. The increase in the stock could be attributed to the short trading of the stock in huge volumes. The last press release from the company was regarding the quarterly results.
EXPR Q3 2021 Operational Results
In early December, EXPR released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th October 2021. The company generated net sales of $471.98 million during the quarter against $322.06 million for the same quarter of 2020. The total operating expenses for the three months were $140.55 million against $124.86 million for the same three-month period of 2020. The net income generated by the company during the period was $13.08 million (or $0.20 and $0.19 per basic and diluted share) against the net loss of $90.34 million (or $1.39 per basic and diluted share) for the same period of 2020.
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Q3 2021 Financial Results
Alongside the operational results, EXPR also released the financial results for the quarter. The company had cash and cash equivalents of $36.79 million on 30th October. The total current assets in possession of the company on the said date were $511.53, while the total assets were estimated to be $1.32 billion. On the said date, the total current liabilities payable by the company were $624.2 million, while the total liabilities were $1.33 billion. The total stockholders’ deficit on 30th October 2021 was $8.16 million.
Executive Commentary
While commenting on the results, Tim Baxter, Chief Executive Officer of EXPR said that the company’s strong performance during the quarter suggests the power of the company’s EXPRESSway forward strategy. The company is confident that it would continue to deliver positive comparable sales and gross margin expansion during the upcoming quarters and that the company expects a marked improvement in performance as compared to that of previous years.
Future Outlook for EXPR
During the last three months, EXPR stock has declined more than 30%. Estimates however suggest that the upcoming months would provide the stock with investors’ attention. Hence, it appears that the stock would see positive times in the near future.
