Express to close 100 stores by 2022, narrows Q4 forecast

Announcing Expressway Forward corporate strategy to drive profitable growth, Express inc has said that the company expects to close approximately 100 stores by 2022 including nine stores that have already closed in 2019, 31 by the end of January 2020, and an additional 35 by the end of January 2021. The company added that comparable sales are currently expected to be approximately down 3 percent, adjusted net income to be in the range of 11 to 12.5 million dollars and adjusted diluted earnings per share to be in the range of 17 cents to 19 cents.