EXPR - Express GAAP EPS of -$0.99 revenue of $383.26M
2023-05-24 05:40:20 ET
- Express press release ( NYSE: EXPR ): Q1 GAAP EPS of -$0.99.
- Revenue of $383.26M (-15.0% Y/Y).
- Q2 Outlook : Net sales of approximately $400 million to $450 million, including approximately $30 million in Bonobos sales; Gross margin rate to decrease approximately 800 basis points, including approximately 300 basis points of royalty expense related to the joint venture with WHP, and a positive 200 basis point impact from Bonobos; SG&A expenses as a percent of net sales to deleverage approximately 300 basis points, including an approximate 100 basis point impact from Bonobos; Net interest expense of $3 million; Effective tax rate of essentially zero percent; Diluted loss per share of $0.50 to $0.60; Consolidated inventory to increase by approximately 10% to 15% with the addition of Bonobos.
- FY2023 Outlook : Net sales of approximately $1.9 billion to $2.0 billion, including approximately $125 million to $150 million in Bonobos sales; Net interest expense of $15 million; Effective tax rate of essentially zero percent; Diluted loss per share of $1.50 to $1.70; Capital expenditures of approximately $30 million, a $25 million reduction compared to our previous outlook of $55 million as we prioritized capital deployment for the Bonobos transaction.
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Express GAAP EPS of -$0.99, revenue of $383.26M