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Express Inc.’s web sales soar nearly 27% in the second quarter
Online sales accounted for more than 12% of the retailer’s total sales.
Specialty apparel retailer Express Inc. today reported that its web sales soared 27% in the second quarter and more than 37% in the first half of 2013.
For the second quarter ended Aug. 3, Express, No. 97 in the Internet Retailer 2013 Top 500 Guide, reported:
- Web sales increased 26.9% to $59.9 million from $47.2 million in the second quarter of 2012.
- Total sales grew year over year 6.9% to $486.2 million from $454.9 million.
- Comparable-store sales, which include web sales, increased 6%.
- Net income increased 7.0% to $16.9 million from $15.8 million in the second quarter of 2012.
- The web accounted for 12.3% of total sales compared with 10.4% in the second quarter.
"We delivered a very solid second quarter,” says Michael Weiss, Express chairman and CEO. "Our customers are responding enthusiastically to our assortments, which are trend-right, differentiated and well-edited. We are seeing this reflected in improved conversion rates. As we move into the second half of the year, we are confident in our product and marketing strategies, and believe we are well positioned for the fall and holiday seasons."
For the first half of 2012, Express reported:
- Web sales increased 37.3% to $130.6 million from $95.1 million in the first quarter of 2012.
- Total sales grew year over year 4.6% to $994.7 million from $950.8 million.
- Comparable-store sales, which include web sales, increased 3%.
- Net income dipped 14.9% to $49.3 million from $57.9 million in the first quarter of 2012.
- The web accounted for 13.1% of total sales compared with 10.0% in the first half of 2012.