Express Inc. modestly beat fourth-quarter profit expectations, but warned that it would get a slower-than-expected start to 2013, driving its stock down 9.5 percent to $17.06 in the opening minutes of Wall Street trading.
The retailer’s fourth-quarter rose 5.9 percent to $64 million, or 75 cents a share, from $60.4 million, or 68 cents, a year ago. Profits came in 1 cent ahead of the 74 cents analysts projected.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"