Express' Incremental Cost Savings Efforts To Drive Profitability & Cash Flow: Analyst Boosts Price Target Ahead Of Q2 Results
Express' Incremental Cost Savings Efforts To Drive Profitability & Cash Flow: Analyst Boosts Price Target Ahead Of Q2 Results
Telsey Advisory Group analyst Dana Telsey reiterated a High Risk rating on Express, Inc. (NYSE:EXPR), raising the price target to $20 from $2.
Telsey 咨询小组 分析师 Dana Telsey 重申了高风险评级 Express, Inc 纽约证券交易所代码：EXPR），将目标股价从2美元上调至20美元。
The company will report 2Q23 results on Wednesday, September 6, before the market opens.
该公司将在市场开盘前于9月6日（星期三）公布23年第二季度业绩。
On August 18, EXPR released preliminary results for the quarter, where the company said it expects sales to be $400 million - $450 million and diluted loss per share to be $(0.50) to $(0.60) for the second quarter FY23.
8月18日，EXPR公布了本季度的初步业绩，该公司表示，预计23财年第二季度的销售额为4亿至4.5亿美元，摊薄后的每股亏损为0.50美元至0.60美元。
The preliminary earnings are within the previously announced guidance range.
初步收益在先前公布的指导区间内。
The analyst expects Q2 EPS of ($11.11), adjusted for the reverse stock split. On the top line, Telsey estimates a sales decline of 5.2% Y/Y to $441 million, driven by a 10% comp decline.
该分析师预计，经反向股票拆分调整后，第二季度每股收益为（11.11美元）。最重要的是，在补偿下降10％的推动下，Telsey估计，销售额同比下降5.2％，至4.41亿美元。
The analyst thinks the company is taking an even more aggressive approach to reduce costs with $80 million in savings in FY23, up from $65 million previously, a $30 million workforce reduction, and gross margin efforts.
这位分析师认为，该公司正在采取更积极的方法来降低成本，在2023财年节省了8000万美元，高于之前的6500万美元，裁员了3000万美元，并努力提高了毛利率。
The analyst notes that cost savings help to add visibility to the company's longer-range efforts to drive improved profitability and cash flow, particularly in light of an uncertain macro environment.
分析师指出，节省成本有助于提高公司长期努力的知名度，以推动盈利能力和现金流的改善，尤其是在不确定的宏观环境下。
However, given the competitive retail environment, margin pressure from guaranteed minimum royalty payments to WHP Global for brand licensing, and an assortment that remains a work in progress, the analyst maintains the High Risk rating.
但是，鉴于竞争激烈的零售环境、向WHP Global支付品牌许可的最低特许权使用费所带来的利润压力，以及各种产品仍在进行中，分析师维持了高风险评级。
Below the top line, the analyst looks for 840 bps of gross margin contraction to 24.7%, broadly in line with the consensus of 24.9%.
在收入下方，分析师预计毛利率将收缩840个基点至24.7％，与24.9％的共识大致一致。
Telsey expects SG&A to deleverage 340 bps, while total operating expenses are expected to deleverage 240 bps in the quarter to 33.2%.
Telsey预计，销售和收购将去杠杆化340个基点，而总运营支出预计将在本季度去杠杆化240个基点至33.2％。
Taken together, Telsey expects the operating margin to contract 1,080 bps to (8.5%) down from the (2.2%) margin recorded last year.
总而言之，Telsey预计营业利润率将从去年（2.2％）的利润率收缩1,080个基点至（8.5％）。
Price Action: EXPR shares are trading higher by 2.00% to $10.20 on the last check Thursday.
价格走势： 在周四的最后一张支票中，EXPR股价上涨2.00％，至10.20美元。