RTTNews | Aug 25, 2021 11:12AM EDT

11:11 Wednesday, August 25, 2021 (RTTNews.com) - Shares of American retailer Express, Inc. (EXPR) are down 7 percent on Wednesday morning. The company swung to profit in the second quarter of this year, helped by a 86 percent increase in sales.

In the second quarter, the company posed net income of $10.6 million or $0.15 per share, compared to net loss of $107.8 million or $1.67 per share in the same period last year.

Excluding items, income was $1.7 million or $0.02 per share, compared to loss of $95.6 million or $1.48 per share in the last-year quarter.

On average, 3 analysts polled by Thomson Reuters expected the company to post loss of $0.30 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Net sales for the period rose to $457.6 million from $245.7 million a year ago, while analysts were looking for revenues of $447.9 million.

Currently at $6.75, the stock has traded between $0.57 and $13.97 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3221065/express-shares-slip-7-after-reporting-q2-results.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved