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What's Going On With Express Shares Today?

Express, Inc. (NYSE: EXPR) traded higher in the premarket, but is now trading lower Wednesday after the company announced better-than-expected second-quarter financial results.

The stock also traded higher Tuesday amid momentum in Reddit stocks, led by GameStop Corp (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC).

Express reported quarterly adjusted earnings of 2 cents per share, which beat the estimate for a loss of 30 cents per share. The company reported quarterly revenue of $458 million, which beat the estimate of $447.91 million.

Express said it expects net revenue to be above 2019 levels on a comparable basis in the second half of the year. The company also said it's on track to achieve its goal of $1 billion in e-commerce demand by 2024.

View more earnings on EXPR

“Our performance across all channels in the second quarter was very strong on both the top and bottom line. We experienced an inflection point after the Fourth of July and have been driving a double digit comp versus 2019 since that time,” said Tim Baxter, CEO of Express.

Express is a U.S.-based specialty apparel retailer.

EXPR Price Action: Express has traded as high as $13.97 and as low as 57 cents over a 52-week period.

At last check Wednesday, the stock was down 6.33% at $6.80.

Photo by Mike Mozart from Flickr.

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