Express has announced better-than-expected results for the company's recent fourth quarter, much to the surprise of analysts' original estimates.
The company reported $725.8 million in net sales during the period of time, which surpassed estimated amounts by approximately $12.9 million, Bidness ETC reports. Express also surpassed earning expectations by three cents, reporting $0.49 net income per diluted share during the fourth quarter.
News of the retailer's favorable results forecasted a sharp rise in shares of the company's stock.
"Sales picked up substantially during the final two weeks of December and remained strong throughout the balance of the quarter," Chief Executive Officer David Kornberg said, according to Investors Business Daily.
"I'm particularly pleased that as we reduced all-store promotional activity in January vs. the prior year ... and positioned ourselves to begin 2015 with a better composition of spring inventory than at this time last year."
Express was founded in 1980 and is headquartered in Columbus, Ohio and New York City.
