Shares in Express Inc. skyrocketed a full 17.4 percent in premarket trading today after the clothing retailer reported better-than-expected third-quarter earnings, although net income dropped nearly in half to $17.4 million or $.20 per share. Still, analysts had expected quarterly earnings to end at just 17 cents per share. Contributing to the company’s third-quarter losses, net sales dropped by 4 percent to just $468.5 million compared to $486.8 million sold one year ago. Analysts had expected as much, and had forecast total sales revenue of $468.80 for the quarter.

Based on third quarter results, Express is now reassessing the company’s fourth quarter guidance and says it expects sales to continue to decrease to low single digits. The company expects net income to fall as low as $53 million to $58 million—or between $.62 and $.68 per share. Analysts expect even lower results and are predicting fourth quarter profit of as little as $.57 per share.

Samantha Lile

Samantha Lile is a 2002 Missouri State University graduate of journalism and mass media. She has served as a reporter and editor for various newspapers throughout her journalism career. She made the leap into writing full-time after working for a major financial institution since 2000.

Because of her banking background, Samantha is knowledgeable in finance reporting, but is also strong in commentaries, personal profiles, youth studies, horticulture, history and entertainment-related works.

Samantha lives in Ozark, Mo. with her husband of nine years, four dogs and two cats.

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