Express reports Q4 EPS $4.82 vs. 11c last year

Q4 EPS included the after tax impact of the $409.5M gain on the transaction with WHP Global. Reports Q4 revenue $514.3M vs. $594.9M last year. Comparable retail sales, which includes both Express stores and eCommerce, were down 15% compared to the fourth quarter of 2021. Retail stores comparable sales decreased 11% while eCommerce declined 19%. Comparable outlet sales decreased 7% compared to the fourth quarter of 2021. Gross margin was 23.9% of net sales compared to 29.2% in last year’s fourth quarter, a decrease of approximately 530 basis points. Merchandise margin contracted by 280 basis points primarily driven by the challenging macroeconomic and highly promotional retail environment.