Express news and archive

WHP Global forms new retail operating platform to acquire Express

A conglomerate of firms, including fashion retail group WHP Global, have come together to form a new retail operating platform that has gained approval to acquire the majority of Express, Inc. operations. WHP, in collaboration with Brookfield Properties, an affiliate of Simon Property Group, and Centennial Real Estate, has established ‘Phoenix’,...

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WHP-led consortium initiates sales deal with Express

Express, Inc. announced that announced that it has received a non-binding letter of intent from a consortium led by WHP Global, a wholly owned subsidiary of Simon Property Group and Brookfield Properties for the potential purchase of the company’s retail stores and operations. Express also announced that it has named Mark Still as senior vice...

Business

Express delisted from the New York Stock Exchange

U.S. mall brand Express has seen its shares suspended from the New York Stock Exchange (NYSE) and will now be traded on the OTC Pink Open Market. The NYSE decided to seek delisting of Express as the retailer failed to meet the requirement of maintaining an average global market capitalization of at least 15 million dollars over 30 consecutive...

Business

Express receives delisting notification from NYSE

American retailer Express has announced that it has received a delisting notification from the New York Stock Exchange (NYSE) that would see its common stock suspended from market close on March 6. Instead, the company’s common stock will be trading publicly on the over-the-counter (OTC) Pink market, under the symbol ‘EXPR’. According to a press...

Business

Express Inc. faces bankruptcy speculation, CEO responds

It is becoming apparent that Express Inc. could be the next to succumb to the unforgiving jaws of the current economic crisis, as speculation begins to mount surrounding the financial status of the company and the possibility of an impending bankruptcy. The apparel retailer is believed to have appointed restructuring advisor M3 and law firm...

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Express, Inc. sees net sales uptick for Q3

Express, Inc. has released its financial results for the third quarter of 2023, during which time it reported that its net sales had increased 5 percent to 454.1 million dollars, compared with 434.1 million dollars in the year prior. This comes despite a 7 percent drop in net sales at its owned brands Express and UpWest, where comparable retail...

Business

WHP Global details plans for expanded Express partnership

Brand management firm WHP Global has announced further details of its expanded relationship with Express, a brand the company recently signed a long-term licensing deal with in order to bring it to new markets. The duo first struck up their strategic partnership in January 2023, when they set about on an intellectual property joint venture that...

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Express appoints Stewart Glendinning as new CEO

US fashion retailer Express has named Stewart Glendinning as its new chief executive officer, effective September 15. Glendinning succeeds Tim Baxter, who is leaving the business after four years at its helm. Baxter joined Express in June 2019, and notably steered the business through the pandemic. Commenting on his appointment in a statement,...

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Express swings to Q2 loss as sales fall

US fashion retailer Express swung to a loss in the second quarter as its sales fell 6 percent. In the three months to July 29, the company made a net loss of 44.1 million dollars, or 11.79 dollars per diluted share, compared to a profit of 7 million dollars, or 2.05 dollars per diluted share, the prior year. That came as net sales fell to 435.3...

People|In Pictures

Express names Brian Atwood as creative director of footwear

Luxury footwear designer Brian Atwood has been named as the creative director of footwear at US retailer Express, overseeing women’s and statement men’s footwear. Atwood, appointed to create “excitement” for Express’ footwear offering, has also designed a 'Brian Atwood for Express’ shoe collection featuring a selection of his signature styles,...

Business

Express maintains Q2 sales and EPS outlook

Fashion apparel retailer Express, Inc. expects to report net sales in the range of its previously-announced outlook of 400 million dollars to 450 million dollars, and diluted loss per share of 50 cents to 60 cents. “Net sales for the Express brand improved sequentially throughout the second quarter driven by the corrective actions we have taken...

Business

WHP Global closes Bonobos acquisition, EXPR to operate US business

WHP Global has announced the closing of a joint acquisition of the Bonobos brand in a strategic partnership with Express, Inc (EXPR). As part of the transaction, WHP and EXPR have agreed that the latter will gain the right to use the intellectual property for the operation of Bonobos’ US business in a long-term licensing agreement. In a release,...