Express beats by $0.08, beats on revs; guides Q3 EPS in-line; raises FY15 EPS above consensus; reaffirms FY15 comp guidance; Q2 comps -5%
Reports Q2 (Jul) earnings of $0.08 per share, $0.08 better than the Capital IQ Consensus Estimate of ($0.00); revenues fell 1.8% year/year to $481.4 mln vs the $457.65 mln consensus with (including e-commerce sales) comps -5%. Gross margin as a percentage of net sales declined 280 basis points compared to last year's second quarter and represented 28.3% of net sales.
- Co issues in-line guidance for Q3, sees EPS of $0.13-0.18 vs. $0.16 Capital IQ Consensus Estimate. Co sees Q3 comps of Negative low single digits.
- Co issues raised guidance for FY15, sees EPS of $0.85-0.95 from $0.74-0.90 vs. $0.81 Capital IQ Consensus Estimate. Co reaffirms FY15 comp guidance of Negative mid single digits.