BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'shares jump'. (Return)

MarketWatch MarketPulseJul 10, 2020
Express shares jump 13% premarket as retailer says sales and traffic improving as stores reopen
Clothing retailer Express Inc.'s shares jumped 13% in premarket trade Friday, after the company said same-store sales and traffic are improving as most of its stores have reopened after being closed for the coronavirus pandemic. The Columbus, Ohio-based company said about 95% of its stores are now open and the rest are expected to do so in the coming weeks. "With each successive wave of store openings, sales and traffic improved steadily week over week through the third week in June, with sales outpacing traffic due to higher conversion levels," the company said in a statement. Same-store sales have improved to negative 15% in the third week of June from negative 50% in early May. However, same-store sales and traffic declined in Arizona, California, Florida and Texas in late June, as COVID-19 cases began to spike. The company has buy online and pick up in store capabilities at more than 275 stores and plans to have all stores enabled by the end of the third quarter. "Results in stores have been negatively impacted by multiple factors, including reduced mall traffic due to COVID-19 and the cancellation of June and July product, the latter causing the assortments to not yet be fully reflective of the Company's new vision but deemed prudent in order to effectively manage liquidity," said the company. Shares have fallen 69% in the year to date, while the S&P 500 has fallen 2.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


TRENDING TAGS
coronaviruscases latest COVID-19 updates California
COVID-19cases Coronavirus deaths states Vaccine
stocksinvestors recovery global economic These
TrumpSupreme Court Biden CEO tax
Chinasince stocks currency hits highest
Stockmarket Today futures investors higher
investorsstocks recovery Global economic move
Recoveryeconomic stocks virus investors rise
marketstock Dow stocks futures lower
Casescoronavirus COVID-19 record Surge rise

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC