NEW YORK (TheStreet) -- Express (EXPR - Get Report) stock is plunging on Friday after the company reported below-consensus earnings in its first quarter and warned of continuing troubles ahead. By market open, shares had plummeted 13.1% to $11.85.
Over its first quarter, the clothing retailer earned 6 cents a share, missing estimates by 8 cents according to analysts surveyed by Thomson Reuters. Sales dropped nearly 10% year over year to $460.7 million.
For the full year, management guides for earnings between 74 cents and 90 cents a share, below forecasts of $1.14.
- You can view the full analysis from the report here: EXPR Ratings Report
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