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Express to open 30 outlet stores in 2015; division exceeding expectations


New York -- Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call.

Express is expanding its outlet store division both through new construction and conversions. About half of its current outlet portfolio is made up of conversions from full-price Express stores in outlet malls or from Express clearance stores.

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