The American fashion retailer has provided an upbeat assessment of its second-quarter results to date.
The apparel retailer said it saw a significant increase in online demand and apparent stabilisation in-store sales and traffic in July.
“While the industry remains pressured by pandemic headwinds and their impact on consumer confidence, the company is encouraged by these results, and now estimates second-quarter comparable sales to be down 24 per cent and net sales to be down 48 per cent on a year-over-year basis,” Express stated.
“Our second consecutive month of positive e-commerce demand coupled with the apparent stabilisation in-store sales and traffic indicate that our new product vision and brand positioning are resonating with customers,” said Tim Baxter CEO. “I expect our comparable sales trend to improve as we resume flowing new receipts over the next several weeks.”
