12/04/13

Express Inc.’s web sales jump more than 29% in Q3

Online sales accounted for more than 14% of the retailer’s total sales.

Zak Stambor , Managing Editor

Specialty apparel retailer Express Inc. today reported that its web sales soared more than 29% in the third quarter and more than 34% in the first three quarters of 2013.

For the third quarter ended Nov. 2, Express, No. 97 in the Internet Retailer 2013 Top 500 Guide, reported:

For the first three quarters of 2013, Express reported:

While the retailer’s holidays sales have surpassed last year’s results to date, they have failed to meet expectations, says Michael Weiss, Express chairman and CEO.

“We had been planning for a promotional holiday season, but we now expect the intensity of those promotions to reach heightened levels and we are updating our full-year guidance accordingly,” he says. As a result, Express says it expects “low single-digit” growth in comparable-store sales, which include e-commerce, in the fourth quarter.

Topics:

e-commerce earnings, Express, online apparel sales, retail chains, Top 500

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