Express news and archive

Express secures 140 million dollars in financing

Express has secured a further 140 million dollars in financing to help bolster its liquidity. The fashion retailer has entered into a definitive loan agreement with Sycamore Partners as lead lender, along with Wells Fargo and Bank of America Merrill Lynch. The new financing includes a 90 million dollar FILO Term Loan and a 50 million dollar...

Business

Express comparable sales decline by 30 percent in Q3

Consolidated net sales at Express Inc. decreased 34 percent to 322.1 million dollars with consolidated comparable sales down 30 percent. The company said in a statement that comparable retail sales, which include both Express stores and ecommerce, decreased 33 percent compared to the third quarter of 2019, while comparable outlet sales decreased...

Retail

Klarna partners with Express in time for holiday shopping

‘Buy now, pay later’ payment service Klarna has partnered with fashion retailer Express to allow customers to purchase the brand’s clothing with Klarna’s flexible payment option. At the start of November, Klarna and Express announced their ‘Express Cheer’ holiday campaign. Each week through December 21, the companies are giving 100 prizes of 100...

Fashion

Express announces giving initiative called Dream Big Project

Express is motivating customers to support small businesses. The contemporary clothing retailer has launched the Dream Big Project - an ongoing initiative powered by GoFundMe. The Dream Big Project will raise funds to provide relief for entrepreneurs who have been impacted by the pandemic. Express said that it will match customer donations up to...

Business

Express turnover declines by 48 percent in Q2

For its second quarter, Express Inc., reported consolidated net sales decrease of 48 percent to 245.7 million dollars, with consolidated comparable sales down 24 percent. The company said in a statement that comparable retail sales, which includes both Express stores and e-commerce, decreased 28 percent compared to the second quarter of 2019,...

Retail

Express announces plans to re-open U.S. stores

Express said that it plans to open approximately 300 of its stores before May 25, in accordance with the latest state and federal guidelines and adhering to new health and safety measures. The U.S. fashion retailer has already re-opened a few stores in Georgia and South Carolina last week, and will continue to take a phased approach as it...

Business

Express withdraws outlook, closes stores amid coronavirus concerns

Effective immediately, Express Inc. will close all Express and Express Factory Outlet stores until March 27, while its website and mobile app will remain available to customers. “The COVID-19 pandemic is an unprecedented situation that is unfolding day by day,” said Tim Baxter, the company’s Chief Executive Officer, adding, “The situation has...

Business

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...

Business |UPDATE

Express’ store closures starting this week: 31 locations across the U.S.

New York – Earlier this week, fashion retailer Express announced its plans to close 91 locations over the next couple of years, including 31 stores by the end of January and 35 by the end of January 2021. The first wave of closures entered into effect this weekend. Talking to ‘Business Insider’, Express’ CEO Tim Baxter explained that this...

BusinessFeatured

Express to close 100 stores by 2022, narrows Q4 forecast

Announcing Expressway Forward corporate strategy to drive profitable growth, Express inc has said that the company expects to close approximately 100 stores by 2022 including nine stores that have already closed in 2019, 31 by the end of January 2020, and an additional 35 by the end of January 2021. The company added that comparable sales are...

Business

Express lays off staff from Columbus, Ohio headquarters

Express, Inc. has announced a restructuring of its corporate workforce to align its organization with the company’s go-forward strategy. The company said in a statement that the restructure impacts approximately 10 percent of the positions in the company’s Columbus, Ohio headquarters and its design studio in New York City. “When I joined...

Fashion

Express continues partnership with Karla Welch for holiday capsule

After launching a successful collection together earlier this year, celebrity stylish Karla Welch and Express are joining forces again just in time for the holidays. Launching on Dec. 5, the second capsule collection from Express and Karla Welch have created an 18-piece collection with the holiday spirit in mind. Featuring sequin dresses, a lace...