It’s another busy day for earnings reports, with a slew of big clothing retailers reporting fairly-rosy quarterly results today.
Shares in Express Inc (NYSE:EXPR) are up slightly in early trade after the mid-market clothing company beat Wall Street’s estimate by posting fiscal first-quarter earnings of US$0.01 per share on revenue of US$479.4mln. Analysts had projected that Express would post a loss of US$0.01 per share on revenue of US$463.9mln. Express also raised its guidance for the full fiscal year to US$0.37 to $0.47 per share.
American Eagle Outfitters (NYSE:AEO) also came in slightly ahead of Wall Street’s estimate in reporting a $0.23 per share gain on revenue of US$823mln. CEO Jay Schottenstein put the credit for his group’s strong showing on jeans and its Aerie lingerie brand and investors applauded, sending the group’s shares up 3.4% to US$23.38 this morning. The consensus estimate was for $0.22 per share on revenue of US$806.5mln.
Elsewhere, Burlington Stores (NYSE:BURL), the discount seller of coats, footwear and other goods, zipped past the market’s estimate to post fiscal first-quarter earnings of US$1.26 per share on revenue of US$1.52bn. The average estimate came in lower at US$1.09 per share on revenue of US$1.49bn. Burlington shares jumped 7.9% to US$147.00 in morning trade after the company said it now expects its fiscal year earnings to fall between US$5.90 to US$6.00 per share.
J.Jill (NYSE:JILL), the women’s retailer, whizzed past Wall Street’s projections too and reported fiscal first-quarter earnings until the close of April of US$0.29 per share on revenue of US$181.5mln. The Wall Street estimate was for earnings per share of US$0.18 on revenue of US$160mln. In response, buyers of J.Jill stock pushed its shares up by 18.7% to US$7.36.
The men’s retailer Perry Ellis Int (NASDAQ: PERY) crushed market estimates as well and posted first-quarter earnings over the same three months of US$0.78 per share on revenue of US$255mln, helped by sales of golf clothes and swim wear. The consensus earnings estimate was for US$0.66 per share on revenue of US$235.4mln. Investors appeared satisfied with the solid results and drove shares 6% higher to US$28.36 this morning. Perry Ellis is sticking with its fiscal-year earnings guidance of US$1.80 to US$1.90 per share on revenue of US$855mln to US$865mln.
One decliner in a sea of mainly quarterly beats is the women’s retailer Christopher & Banks (NYSE:CBK) which reported a fiscal first-quarter loss of US$0.14 per share on revenue of US$85.9mln. Investors sent its shares down by an eye-watering 31.2% to US$0.75 in early trade after the retailer fell short of the consensus estimate of US$0.08 per share.