Express Inc (LON:EXPR) shares were set to jump nearly 18% in Wednesday’s early deals after quarterly financials beat Wall Street expectations.
The apparel group reported a US$11.8mln loss for the second quarter, versus a US$10mln profit in the same period last year. It equated to a 15 cents per share loss, adjusted for restructuring costs earnings amounted to 1 cents per share.
Second quarter revenue was reported at US$478.5mln, slightly above the US$477.4mln anticipated by the market.
It now expects full-year earnings to be between 41 and 48 cents per share.
In premarket dealing, Express shares were up 96 cents, about 17.5%, priced at US$5.49.