Express on a roll as Q1 profits, sales top Street

Columbus, Ohio -- Express turned in a strong first quarter performance, with its profits and revenue surpassing Wall Street estimates. The retailer boosted its full-year earnings forecast and also issued second-quarter earnings guidance above analyst projections.



“2015 is off to a strong start,” said David Kornberg, president and CEO. “Our customers responded with enthusiasm to our assortment while we intensified our inventory discipline and scaled back our promotional activity.”



Express earned $13.1 million for the quarter ended May 2, up from $5.1 million in the year-ago period.



Revenue increased to $502.4 million from $460.7 million, which also beat Wall Street forecasts easily.



Same-store sales, which include online sales, rose 7%. Online sales increased 12% to $77.6 million.