RTTNews | Dec 2, 2021 07:26AM EST

07:26 Thursday, December 2, 2021 (RTTNews.com) - Fashion apparel retailer Express, Inc. (EXPR) reported Thursday that net income for the third quarter was $13.09 million or $0.19 per share, compared to net loss of $90.35 million or $1.39 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.17 per share, compared to adjusted loss of $1.17 per share in the year-ago quarter.

Net sales for the quarter increased 47 percent to $471.98 million from $322.06 million in the same quarter last year. Consolidated comparable sales increased 46 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share on sales of $503.1 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company now projects comparable sales to increase by low-single digits for the fourth quarter.

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