Express Q4 net loss widens, reveals subdued outlook for Q1

Consolidated net sales at Express Inc., decreased 3 percent to 606.7 million dollars, with consolidated comparable sales down 3 percent, comparable retail sales, which includes both Express stores and e-commerce, decreased 5 percent compared to the fourth quarter of 2018. In total, retail sales decreased to 444.6 million dollars from 479 million dollars in the fourth quarter of 2018. Comparable outlet sales increased 2 percent and total outlet sales increased to 143.8 million dollars. The company said in a statement that net loss for the quarter was 141.6 million dollars or a loss of 2.21 dollars per diluted share, compared to 1.1 million dollars or 2 cent per diluted share, in last year’s fourth quarter, while adjusted net income was 12.2 million dollars or 19 cents per diluted share compared to 12.8 million dollars or 19 cents per diluted share, in the fourth quarter of 2018.