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Express Plunges on Wide Loss, Job Cuts

Shares of fashion apparel retailer Express  (EXPR) – Get Report plummeted more than 28% Thursday after the company reported a wider-than-expected fiscal third quarter loss while announcing job cuts.

The Columbus, Ohio-based company reported a net loss of $90.3 million, or $1.39 per share, with an adjusted loss of $1.17 per share, for the quarter ending Oct. 31. Analysts were expecting a loss of just 51 cents per share. 

Revenue fell 34% to $322.1 million, also falling short of estimates for $376 million. 

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