As part of a plan to cut costs by $500 million, Staples says it plans to close up to 225 North American stores by ...
The web grows 38% for Express in Q2
E-commerce accounted for nearly 9% of total sales of $446.0 million.
Quarterly e-commerce sales keep on growing for specialty apparel retailer Express Inc.
For the second quarter ended July 30, Express, No. 124 in the Internet Retailer Top 500 reported:
- Web sales increased 38% to $38.1 million from $27.6 million in the second quarter of 2010.
- Total sales grew 9.5% to $446.0 million from $407.3 million in the second quarter of 2010.
- Comparable-store sales increased 6%.
- Net income declined year over year 43% to $12.6 million from $22.1 million.
Internet Retailer calculates the web accounted for 8.5% of total sales compared with 6.8% in the second quarter of 2010.
“We are a fashion authority for our demographic, which is growing and has a high discretionary spend,” says CEO Michael Weiss. “Our data driven processes provide us with a key competitive advantage.”
For the first two quarters:
- Web sales increased 38.5% to $75.6 million from $54.6 million in the first two quarters of 2010.
- Total sales grew 9.6% to $913.4 million from $833.7 million in the first quarters of 2010.
- Comparable-store sales increased 7%.
- Net income declined year over year 9.7% to $47.6 million from $52.7 million.
Internet Retailer calculates the web accounted for 8.3% of total sales compared with 6.5% in the first two quarters of 2010.