200
Fashion Jobs
SAMSOE
Account Manager no (Menswear)
Permanent · OSLO
BEST SELLER
Bestseller Søker Business Controller Til Vero Moda
Permanent · OSLO
ABBOTT
Territory Manager
Permanent ·
RITUALS
Butikkselger (Sommerhjelp) -Tønsberg - Farmandstredet
Permanent · TØNSBERG
RITUALS
Butikkselger (Sommerhjelp) - Kristiansand - Sandens
Permanent · KRISTIANSAND
RITUALS
Butikkselger (Sommerhjelp) - Horten - Sjøsiden Shopping Center
Permanent · HORTEN
RITUALS
Butikkselger (Sommerhjelp) - Down Town Kjøpesenter
Permanent · PORSGRUNN
RITUALS
Butikkselger (Sommerhjelp) - Kristiansand - Sørlandssenteret
Permanent · KRISTIANSAND
RITUALS
Butikkselger (Sommerhjelp) - Bergen - Oasen Senter
Permanent · BERGEN
RITUALS
Butikkselger (Sommerhjelp) - Hafrsfjord - Amfi Madla
Permanent · HAFRSFJORD
RITUALS
Butikkselger (Sommerhjelp) - Straume - Sartor Storsenter
Permanent · STRAUME
RITUALS
Butikkselger (Sommerhjelp) - Stavanger - Søregata
Permanent · STAVANGER
RITUALS
Butikkselger (Sommerhjelp) - Kilden Kjøpesenter
Permanent · STAVANGER
RITUALS
Butikkselger (Sommerhjelp) - Bergen Galleriet
Permanent · BERGEN
RITUALS
Butikkselger (Sommerhjelp) - Bergen - Horisont
Permanent · BERGEN
RITUALS
Butikkselger (Sommerhjelp) - Sandnes - Kvadrat
Permanent · SANDNES
RITUALS
Butikkselger (Sommerhjelp) - Kongsberg - Stortorvet
Permanent · KONGSBERG
RITUALS
Butikkselger (Sommerhjelp) - Sandefjord - Hvaltrovet
Permanent · SANDEFJORD
RITUALS
Butikkselger (Sommerhjelp) - Arendal - Alti Senter
Permanent · ARENDAL
RITUALS
Butikkselger (Sommerhjelp) - Drammen - Magasinet
Permanent · DRAMMEN
RITUALS
Butikkselger (Sommerhjelp) - Drammen - Gulskogen Senter
Permanent · DRAMMEN
RITUALS
Butikkselger (Sommerhjelp) - Bryne - m44 Kjøpesenter
Permanent · BRYNE
Published
Mar 11, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Express reports decrease of 40% in annual sales

Published
Mar 11, 2021

Columbus, Ohio-based fashion retailer Express, Inc. announced $1.21 billion in annual sales for 2020 on Wednesday, representing a 40% decline from $2.02 billion in the previous year.


Express struggled to offset the negative impact of Covid-19 in 2020 - Instagram: @express

 
Full-year comparable retail sales, which include both the company’s brick-and-mortar and e-commerce revenues, fell 29% compared to 2019, while comparable outlet sales decreased 21%. Overall, Express’ consolidated annual comparable sales declined 27%.
 
The retailer’s annual net loss was $405.4 million, or $6.27 per diluted share, widening significantly from a loss of $164.4 million, or $2.49 per diluted share, in the previous year.

Commenting on the results in a release, Express CEO Tim Baxter highlighted the actions taken by the company to mitigate the impact of the Covid-19 crisis, as well as the progress made in its strategic transformation plan, which was first revealed in January 2020, shortly before the pandemic struck the United States.
 
“Over the past twelve months, we have effectively managed our liquidity while meaningfully advancing the EXPRESSway Forward strategy. We took appropriate action and made progress despite extraordinary circumstances and market conditions,” he explained.
 
In the fourth quarter ended January 30, 2021, Express posted $430.3 million in net sales, down 29% from $606.7 million in the same period in the previous year. The company’s consolidated comparable sales for the quarter declined 27% compared to the prior-year period, reflecting a 28% decrease in comparable retail sales and a 27% decline in comparable outlet sales.
 
Nonetheless, due to reduced selling, general and administrative expenses and restructuring costs, and the fact that the previous year’s fourth quarter was negatively impacted by impairment of intangible assets, Express was able to narrow its quarterly loss.
 
Q4 net loss at the company came to $53.3 million, or $0.82 per diluted share, compared to a loss of $141.6 million, or $2.21 per diluted share, in the fourth quarter of the previous year.
 
Due to the continued uncertainty surrounding the coronavirus pandemic, Express did not offer a detailed financial outlook for fiscal 2021. The company did, however, say that it expects to see sequential comparable sales improvements throughout the year, as well as a positive EBITDA by the second half.
 
The retailer also explained that its is in the process of finalizing a strategy aiming to grow its digital channel to $1.0 billion by 2024. The company said that it will reveal specific details about the strategy in the second quarter of 2021.
 
Express currently operates more than 500 retail and factory outlet stores in the U.S. and Puerto Rico, as well as an e-commerce website.

Copyright © 2024 FashionNetwork.com All rights reserved.