Profits for the quarter rose to $17.1 million, or 20 cents a share, from $15.9 million, or 18 cents, a year earlier. Earnings were in line with analyst expectations.
Sales for the three months ended Aug. 3 increased 6.9 percent to $486.2 million from $454.9 million.
“Clearly, our customers are reacting positively to our brand, to our assortment and to our marketing, which combine to lay a solid foundation for further progress in the second half of the year,” said Michael Weiss, chairman and chief executive officer, on a conference call with analysts.
“Taking a big picture view of our fashion, I continue to believe that we are firmly on target with our key looks and big ideas, and while traffic continues to be a challenge, I am encouraged by the fact that we have continued to see a very healthy uptick in our conversion rate,” he said.
The retailer now expects diluted earnings per share of $1.52 to $1.60 this year, up from the $1.48 to $1.58 projected in May.
However, Weiss did sound a note of caution.
“What remains to be seen now is how promotional the mall becomes, which, of course, is the wild card we can’t control,” he said. “We are, however, prepared for a highly promotional environment, and under any set of circumstances, we remain focused on delivering the high-quality, fashion-right products.”
Express shares gained 6.6 percent to close at $21.10 on Wednesday.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18