Express Remains Significantly Lower After Early Sell-Off

(RTTNews) - After gapping open sharply lower, shares of Express, Inc. (EXPR) have climbed well off their worst levels of the day but continue to see considerable weakness in late-day trading on Thursday. Express is currently down by 3.5 percent after hitting its lowest intraday level in well over a year.

The initial sell-off by Express came after the apparel retailer reported better than expected third quarter results but provided disappointing guidance.

Express forecast a 5 to 7 percent drop in comparable sales in the fourth quarter and provided earnings guidance of $0.11 to $0.20 per share compared to analyst estimates for $0.31 per share.