EXPR (-8.4%) Express cuts full-year profit outlook, shares fall
Associated Press
COLUMBUS, Ohio (AP) -- Express posted a 25 percent jump in net income for the second quarter, but shares plunged 11 percent after the clothing retailer slashed its profit outlook for the year and said that same-store sales barely rose last quarter and it expects about the same for the rest of the year.
Revenue for the second quarter also fell short of Wall Street expectations.
Express Inc. earned $15.8 million, or 18 cents per share, compared with $12.6 million, or 14 cents per share, in the prior-year period...
