{"id":36402,"date":"2016-03-09T15:05:03","date_gmt":"2016-03-09T21:05:03","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=36402"},"modified":"2016-03-09T18:41:12","modified_gmt":"2016-03-10T00:41:12","slug":"brand-ambassador-promotion-boosting-profits-at-express-inc","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/brand-ambassador-promotion-boosting-profits-at-express-inc\/","title":{"rendered":"“Brand Ambassador” promotion boosting profits at Express Inc."},"content":{"rendered":"

By Poroma Pant<\/strong><\/p>\n

Retailer Express Inc., citing the help from a series of successful celebrity endorser campaigns, turned in fourth-quarter earnings Wednesday that modestly beat analyst estimates.<\/p>\n

For the quarter ended Jan 30, the Ohio-based apparel chain reported net earnings of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents per share in the year ago quarter. The latest quarter\u2019s results beat by two pennies analysts’ estimate of 65 cents per share.<\/p>\n

Sales climbed 5 percent to $765.6 million from $ 725.8 million in the year-ago quarter.<\/p>\n

<\/p>\n

Express Inc. Stock Price 2015-2016<\/h2>\n

[field name=”chart”]<\/p>\n

New company strategies have helped profits, and given a lift to Express Inc.’s share price (Poroma Pant\/MEDILL)<\/div>\n

\u201c2015 was a transformative and successful year,\u201d said David Kornberg, chief executive officer, in a statement.<\/p>\n

The effect of what the company described as improved product and more-positive customer experiences, Express said, were apparent in its comparable sales, or sales at stores open at least twelve months, which increased by a robust 4 percent. Express said its E-commerce sales rose 8 percent to $156.3 million this quarter.<\/p>\n

FBR & Co. noted in a report that these figures were primarily driven due to carefully managed promotions and inventory levels and product quality.<\/p>\n

Over the past few quarters Express has benefited from promotions featuring a number of celebrities. Just last week, the company announced that Chicago Cubs\u2019 all-star Kris Bryant would join its roster of high-profile \u201cbrand ambassadors\u201d including NBA MVP Stephen Curry and supermodel Kate Upton.<\/p>\n

The fashion retailer markets its clothing to customers in the twenty to thirty-year age range, and operates more than 650 retail and factory outlet stores in Canada, Puerto Rico, and the United States.<\/p>\n

Like industry rivals such as American Apparel and Urban Outfitters, Express has faced headwinds in the form of changing consumer trends, resulting in stagnant growth.<\/p>\n

However, Kornberg said in a conference call that the 2015 new \u201c360\u201d approach to marketing, which involves partnering with key influencers has had a positive impact on brand visibility and sales.<\/p>\n

\u201cConsumers are responding favorably to our Spring product. We expect the positive momentum from last year to continue and, as indicated by our guidance, are optimistic about 2016,\u201d he added.<\/p>\n

For the fiscal year ended Jan 30 2016, net earnings were $116.5 million or $1.38 per diluted share, a significant increase from $68.3 million, or 81 cents per share in last year\u2019s quarter. Revenue for the full year increased to $2.35 billion from $2.16 billion, the previous year.<\/p>\n

Express\u2019 fourth-quarter performance cheered investors: in mid-day Nasdaq trading Wednesday, the company\u2019s shares were up 81 cents, or 4.3 percent, at $19.85.<\/p>\n

Express Inc. drove sales with the help of celebrity endorsements in 2015. (Mike Mozart\/Flikr<\/a>)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Poroma Pant Retailer Express Inc., citing the help from a series of successful celebrity endorser campaigns, turned in fourth-quarter earnings Wednesday that modestly beat analyst estimates. For the quarter ended Jan 30, the Ohio-based apparel chain reported net earnings of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents […]<\/p>\n","protected":false},"author":268,"featured_media":36414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,28,585],"tags":[2209,145,2210],"class_list":["post-36402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-interest","category-winter-2016","tag-express-inc","tag-quarterly-earnings","tag-retail-sector"],"yoast_head":"\n"Brand Ambassador" promotion boosting profits at Express Inc. - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/brand-ambassador-promotion-boosting-profits-at-express-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""Brand Ambassador" promotion boosting profits at Express Inc. - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Poroma Pant Retailer Express Inc., citing the help from a series of successful celebrity endorser campaigns, turned in fourth-quarter earnings Wednesday that modestly beat analyst estimates. 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