Express regains compliance

Express has regained compliance with the NYSE listing standards. 

The fashion apparel retailer said that it regained compliance on January 29, after its common stock had maintained an average closing share price of $1.00 over the 30 trading-day period ending on that date.

As previously reported, on Sept. 29, Express received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the company's common stock being less than $1.00 per share over a consecutive 30 trading-day period.

Similar to many other apparel retailers, Express’ sales have declined significantly during the pandemic.

“We are in the early stages of our strategic transformation,” Tim Baxter, CEO, Express, stated in October. “We are confident in our strategy based on the early consumer response to our product and brand vision. We believe that this, combined with the significant cost saving actions we have taken, will put us back on The EXPRESSway Forward.”

Express operates more than 500 stores in the United States and Puerto Rico, as well as an online store.