Express Q2 Income Rises; Lifts FY13 EPS View - Quick Facts

(RTTNews) - Specialty retail apparel chain, Express, Inc. (EXPR), Wednesday reported an increase in second-quarter earnings that matched the Street estimates, paving a way for the company to raise its full-year earnings guidance.

For the three-month period, net income was $16.9 million or $0.20 per share, compared with $15.8 million or $0.18 per share during the corresponding quarter last year. On average, thirteen analysts polled by Thomson Reuters expected earnings per share of $0.20 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales increased 7 percent to $486.2 million from prior year's $454.9 million. Comparable sales increased 6 percent, including e-commerce sales which increased 27 percent. The Street estimated the company to clock in revenues of $484.99 million.

For the third quarter, the company expects to report earnings in the range of $0.21 - $0.26 per share. Analysts expect the company to report earnings of $0.25 for the quarter.

For the full-year 2013, the company raised it earnings outlook to $1.52 - $1.60 per share from the previously projected $1.48 - $1.58 per share. Analysts expect the company to report earnings of $1.59 per share for the year. For the year, the company expects capital expenditure to be in the range $110 million - $115 million.