Express To Close All Canadian Stores To Optimize Store Footprint

  • Express to close its 17 stores in Canada; following these closings, Express will continue to operate 635 stores in the U.S.
  • Actions aligned with strategic focus on improving profitability and optimizing the store footprint

COLUMBUS, Ohio, 2017-May-08 — /EPR Retail News/ — Express, Inc. (NYSE:EXPR) (the “Company”) today (May 4, 2017) announces an additional measure as part of its continued strategic approach to improving profitability and managing and optimizing its store footprint.

As part of this plan, Express intends to close all 17 Canadian stores and discontinue its Canadian operations through its Canadian subsidiary,Express Fashion Apparel Canada Inc. (“Express Canada”). This morning, as a part of that process, Express Canada filed an application for protection under the Companies’ Creditors Arrangement Act (the “CCAA”) with the Ontario Superior Court of Justice (Commercial List) in Toronto.

David Kornberg, Express, Inc. president and chief executive officer noted that, “The challenging Canadian retail environment, coupled with unfavorable exchange rates prevented us from meeting the expectations we had when we entered the market in 2011. While difficult, this action is best for the future of Express and we are committed to carry it out in a way that reflects our respect and appreciation for employees who are impacted. Our overriding focus remains to invest in and direct our resources towards those areas that can generate the greatest return, including growing our e-commerce business, relaunching our customer loyalty program, and continuing to build our omni-channel capabilities to allow our customers to engage with our brand and shop wherever, whenever, and however they want. The decision to exit Canada is consistent with our long-term strategy and will have no impact on our operations in the U.S., which remain in a solid financial position.”

For the fiscal year ended January 28, 2017, Express Canada had net sales of approximately $34 million in U.S. dollars ($45 million in Canadian dollars) and contributed a net loss of approximately $6 million in U.S. dollars to the Express, Inc. consolidated financial statements.

Express Canada currently has 17 stores across Alberta, British Columbia, and Ontario. To facilitate an orderly wind-down, Express Canada intends to conduct store closing sales beginning mid-May. Subsequent to the closings, Canadian customers will continue to be able to make purchases through the Company’s e-commerce website, www.express.com, as well as through the Express mobile app. As part of its application, Express Canada is seeking the appointment of Alvarez & Marsal Canada as Monitor in the CCAA proceedings to oversee the liquidation and wind-down process for Express Canada.

As a result of the CCAA filing, Express, Inc. has determined that Express Canada will be deconsolidated from Express, Inc. financial statements as of the date of the filing. As shown in the table below and detailed as follows, Express, Inc. expects this to impact pre-tax profit on its consolidated financial statements in the range of $28 to $34 million in 2017, driven primarily by the write-down of its investment in Express Canada along with costs associated with exiting Canada. The Company will incur charges of approximately $6 million in the first quarter of 2017 and the remaining $22 to $28 million of exit costs in the second quarter of 2017. In addition, the Company anticipates tax benefits related to exiting Canada in the range of $14 to $16 million, of which approximately $7 million is expected in the first quarter of 2017 and the remaining $7 to $9 million in the second quarter of 2017. As a result, Express, Inc. expects to report an impact to net income in the range of $14 to $18 million in 2017, of which approximately a $1 million benefit is expected in the first quarter of 2017 and an impact of $15 to $19 million expected in the second quarter of 2017. Total after tax cash costs to exit Canada are expected to be in a range of $8 to $12 million. The impact of these exit costs was not included in the Company’s most recently provided guidance.

The Company plans to release first quarter fiscal 2017 results on Thursday, June 1, 2017.

The expected impact of Express Canada’s CCAA Filing on the Express, Inc. consolidated financial statements is as follows:

First Quarter 2017 Second Quarter 2017 Full Year 2017
Income (Loss) Before Tax (~$6 million)(1) ($22 to $28 million)(2) ($28 to $34 million)
Income Tax Benefit(3) ~$7 million $7 to $9 million $14 to $16 million
Net Income (Loss) ~$1 million ($15 to $19 million) ($14 to $18 million)
Total After-Tax Cash Costs ($8 to $12 million)
(1) Driven primarily by a non-cash asset impairment charge of approximately $6 million in the first quarter of 2017.
(2) Driven primarily by the write-down of the investment in Express Canada along with costs associated with exiting Canada in 2017.
(3) Anticipated tax benefits related to exiting Canada.

About Express, Inc.:

Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30- year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The Company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. Express merchandise is also available at franchise locations and online in Latin America. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Forward-Looking Statements:

Certain statements are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that does not directly relate to any historical or current fact and include, but are not limited to, the Company’s plans to improve profitability and to make certain investments in the business and results from such plans and investments, as well as the plan to discontinue Canadian operations and expected financial impacts. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict, and significant contingencies, many of which are beyond the Company’s control. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Additional information concerning these factors can be found in Express, Inc.’s filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.

Investors:
Mark Rupe
614-474-4465
Vice President
Investor Relations

Media:
Robin Hoffman
614-474-4834
Director, Communications

Source: Express, Inc.

Express launches an exclusive, limited-edition collection designed by Karlie Kloss

Express launches an exclusive, limited-edition collection designed by Karlie Kloss

 

Collection to Debut at Live Fashion Show Featuring Inspiring Individuals in Brand Ambassador’s Hometown of St. Louis, Missouri

COLUMBUS, Ohio, 2017-Apr-03 — /EPR Retail News/ — Express, Inc. (NYSE: EXPR) today (March 30, 2017) announced Express’ launch of an exclusive, limited-edition collection designed by Express Brand Ambassador and Creative Consultant Karlie Kloss and the Express design team. Karlie Kloss and Express are set to reveal the collection at a live fashion show featuring innovators, game changers, and go-getters as runway models on March 30, in Karlie Kloss’ hometown of St. Louis, Missouri. The event will also feature live DJ sets by Hannah Bronfman and a special musical performance by Charli XCX.

The Karlie Kloss x Express Collection reveals the beauty and versatility of the essentials of a wardrobe. The collection is comprised of 17 styles that create more than 100 looks ranging from Karlie’s iconic tees and blazers, to quintessential maxi dresses and embellished bombers. The looks reflect the vibrant optimism of Karlie and how her collection – as her dress code – showcases the must-have fashion pieces for a busy lifestyle.

Karlie Kloss and Express selected the inspiring individuals who will appear in the runway show via a contest where applicants uploaded videos to Instagram, explaining how they live their best life and empower others to do the same. The collection and runway show tie to the retailers’ ongoing mission to inspire customers to celebrate and express their best life through fashion.

“This collection is made for everyday women—the strong, dynamic, on-the-go achievers among us,” said Karlie Kloss. “It was amazing to have Express so closely aligned in this vision to design a collection that has a fashionable staple for any occasion. I am excited for us to launch with a runway show back in my hometown of St. Louis, featuring women who live their best lives and know going after your dreams is always in style.”

“Karlie Kloss’ style reflects a life lived without limits. As a model, student, entrepreneur and philanthropist, she’s always in demand, has to be ready for anything, and is making a real difference,” said David Kornberg, Express president and CEO. “This exclusive capsule collection, built by Karlie and the Express design team, offers stylish wardrobe essentials every woman needs.”

The Karlie Kloss x Express Collection will range from $24.90 – $168.00 and will be available online at express.com the evening of March 30 following the runway show and in-stores on March 31. Customers can tune in to view the live runway show on March 30 at 8 pm ET / 7 pm CT on Facebook.com/Express and express.com and see additional coverage by following @Express #Karlie4Express on Instagram, Snapchat and Twitter.

About Express, Inc.:
Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. Express merchandise is also available at franchise locations in Latin America. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Media Contact:

Niki Starr
PR Manager
Express
646-502-4812
nstarr@express.com

SOURCE Express, Inc.

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Express introduces Express “Your Life, Your Dress Code” brand platform with the launch of its Spring 2017 campaign

Express introduces Express “Your Life, Your Dress Code” brand platform with the launch of its Spring 2017 campaign

 

COLUMBUS, Ohio, 2017-Mar-06 — /EPR Retail News/ — Express, Inc. (NYSE: EXPR) today ( Feb. 28, 2017) announced the Express “Your Life, Your Dress Code” brand platform with the launch of their Spring 2017 campaign.

The new brand platform celebrates the customer who is progress-driven and leverages their passions and values to achieve both personal and professional success. This achiever attitude and spirit of optimism is at the core of Express brand values.

Express believes that fashion is inspiring, uplifting and fun, and that clothes can serve a higher purpose. Fashion can give the wearer the confidence to try new things, to meet new people, take on new challenges, reach beyond limits, and reflect passion and optimism for what’s next. Each individual has their own dress code, and Express delivers confident styles that allow each customer to embrace what’s next in their day and life. From day to night and college to career, Express stands for progress, helping each customer to get to the next level.

“Our ongoing mission is to inspire our customers—the innovators, game changers and go-getters—to emphasize and celebrate their own confident style,” said David Kornberg, Express president and CEO. “Whether they’re going on their first job interview or out for cocktails with friends, ‘Your Life, Your Dress Code’ is meant to encourage the Express customer to get to what’s next in their day and in their life.”

The first phase of “Your Life, Your Dress Code” will launch with the brand’s Spring 2017 integrated marketing and advertising campaign that will premiere across digital, social media, broadcast and in-store platforms beginning March 2017 and will continue with upcoming collaborations and brand initiatives. The Express Spring Collection offers customers the quality, detail and fit that reflects what they have achieved and says they’re ready for what’s next.

Customers can explore new spring styles for their dress code beginning March 2017 at Express stores nationwide and online at express.com. Get in on behind-the-scenes action by following @Express on Instagram, Twitter, Snapchat and Facebook and @ExpressMen on Instagram.

About Express, Inc.:

Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. Express merchandise is also available at franchise locations in Latin America. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Media Contact:

Niki Starr
PR Manager
Express
646-502-4812
nstarr@express.com

SOURCE: Express, Inc.

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Express sponsors Black Friday and holiday-themed national Snapchat filters

Seasonal #ExpressLife filters available on Friday, November 25

COLUMBUS, Ohio, 2016-Nov-24 — /EPR Retail News/ — Express, Inc. (NYSE: EXPR), a specialty apparel retailer, today (Nov. 23, 2016) announces Express sponsored national Snapchat filters available exclusively on Friday, November 25, 2016.

To celebrate the biggest shopping day of the year, Express will roll out a series of five Black Friday and holiday-themed national Snapchat filters throughout the day. The festive national filters, which include: “It Runs in the Fam,” “But First Coffee,” “Black Friday Beast Mode,” “Leftovers are Lit,” and “The Party Starts Now,” will allow customers to add a cheerful twist to their Snaps while capturing the fun, memorable and often stressful moments of Black Friday.

Snapchat has 150 million active daily users with more than two-thirds of daily Snapchatters creating content every day. Sponsored Snapchat filters are creative overlays for Snaps. When Snapchatters take a Snap, they’ll be able to swipe left or right and see available Express national filters and use them to add holiday-themed overlays to their Snaps. Snapchat filters uniquely allow brands to enhance the fun and holiday spirit for customers by taking part in the hundreds of millions of Snaps sent each day. On Black Friday, Snapchatters can send a Snap with a festive Express filter to other Snapchatters, or add it to their Story.

“Our #ExpressLife holiday campaign is all about celebrating with the people they love. Now more than ever our customer is not only enjoying these life moments, but also sharing them via their social media channels,” said Jim Hilt, chief marketing officer, Express. “Our national Snapchat filters allow our customers to get in the holiday spirit, while creating and sharing memories through the Express lens.”

About Express, Inc.:
Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. Express has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. Express merchandise is also available at franchise locations in Latin America and the Middle East. Express also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Contact:
Niki Starr
PR Manager
Express
646-502-4812
nstarr@express.com

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Express sponsors Black Friday and holiday-themed national Snapchat filters
Express sponsors Black Friday and holiday-themed national Snapchat filters

 

SOURCE: Express, Inc.

EXPRESS launches Holiday 2016 Campaign featuring brand ambassador Karlie Kloss

EXPRESS launches Holiday 2016 Campaign featuring brand ambassador Karlie Kloss
EXPRESS launches Holiday 2016 Campaign featuring brand ambassador Karlie Kloss

 

Fashion retailer celebrates holiday moments with brand ambassador Karlie Kloss and unveils unique storytelling via digital Expressionists Campaign

COLUMBUS, Ohio, 2016-Nov-24 — /EPR Retail News/ — EXPRESS, Inc. (NYSE: EXPR) today (Nov. 22, 2016) announces the launch of the EXPRESS Holiday 2016 Campaign featuring brand ambassador Karlie Kloss. The campaign celebrates #ExpressLife holiday moments and reveals the ‘Expressionists,’ a cast of inspiring individuals who share their tips and tricks to surviving the holiday season in style.

In the campaign, brand ambassador Karlie Kloss represents #ExpressLife and brings to life key customer mindsets of the holiday season: Arrive in Style, Get in the Spirit, Holiday Parties Every Weekend, and Snowbound all Season, while grounding each life moment in the perfect products. This new integrated marketing and advertising campaign will premiere across digital, social media, broadcast and in-store platforms this month.

As a digital layer of the campaign, EXPRESS reveals its Expressionists—fearless individuals who set out to inspire the world and build their own success story by transforming their passion into their career. From an award-winning chef to beauty and wellness experts, they are as unique as they are driven. They celebrate and express their lives in new and unexpected ways, and share their personal recommendations for hosting and toasting, beauty, gifting, and healthy holidays. They not only stand up, but stand out—one expression at a time.

The Expressionists cast includes: mixologist Elliot Clark, Founder Apartment Bartender; beauty vlogger Deepica Mutyala, Founder, Deepicam; DIY maven Erica Domesek, Founder, P.S. I Made This; wellness expert and advocate for holistic living Francheska Medina, Founder HeyFranHey and chef and environmental advocate Gabe Kennedy.

“This holiday season, we encourage our customers to embody the spirit of Karlie and the Expressionists by living their best #ExpressLife while celebrating with family and friends,” said David Kornberg, president and chief executive officer of EXPRESS. “We are thrilled to partner with inspiring individuals who will reimagine the holiday season through the EXPRESS lens. We know that real people with real purpose resonate with our customers and we are excited to share their stories.”

Customers can get in on behind-the-scenes action by following @Express on Instagram, Twitter, Snapchat and Facebook and @ExpressMen on Instagram.

About EXPRESS, Inc.:
EXPRESS is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. EXPRESS has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. EXPRESS merchandise is also available at franchise locations in Latin America and the Middle East. EXPRESS also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

Media Contact:

Niki Starr
PR Manager
EXPRESS
646-502-4812
nstarr@express.com

SOURCE: Express, Inc.

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EXPRESS congratulates Kris Bryant for being named Major League Baseball National League Most Valuable Player 2016

COLUMBUS, Ohio, 2016-Nov-20 — /EPR Retail News/ — EXPRESS, Inc. (NYSE: EXPR) congratulates EXPRESS Men’s Brand Ambassador Kris Bryant, third baseman of the Chicago Cubs, for being named Major League Baseball National League Most Valuable Player 2016.

During the 2016 season, Bryant continued to rise as one of the most sought after players in the game, delivering a game-winning, team-rallying home run in World Series Game Five. Bryant and team then went on to lead the Chicago Cubs to win their first World Series title since 1908. “I’m really grateful for my opportunities and what I have here,” said Bryant. “When you’re in the moment, you just want to put out the best version of yourself you can be.” (1)

EXPRESS first announced Kris Bryant as Men’s Brand Ambassador in March 2016 and since then, the baseball star has appeared in several marketing and advertising campaigns across print, digital, social media and in-store platforms. Bryant currently appears in the EXPRESS Fall Campaign, sporting the retailer’s latest dressy and casual wear photographed in the iconic city of Chicago.

“This year has brought a lot of firsts for me, from winning a World Series title to being named MVP of the National League to inspiring fans to look and feel great through my work with EXPRESS,” said Bryant. “It’s been an incredible journey so far and I’m excited to see what’s next.”

“EXPRESS’ ongoing mission is to partner with brand ambassadors who are inspiring, confident and embody the spirit of our customers,” said David Kornberg, EXPRESS President and CEO.” Kris Bryant does just that – he lives his best life and looks great doing it. Kris is an incredible athlete whose hard-work and dedication has paid off. We’re thrilled for his achievements both on and off the field.”

About Kris Bryant:
Cubs third baseman Kris Bryant finished the 2016 regular season with a .292 average, 39 home runs, 102 RBIs, 121 runs scored, and eight stolen bases. The power-hitting right-hander has one of the best-selling jerseys in baseball during 2016, according to the MLB.com Shop. He recently received the 2016 National League Hank Aaron Award.

Follow this EXPRESS Brand Ambassador on Instagram (@kris_bryant17), Twitter (@KrisBryant_23), and Facebook(Facebook.com/KrisBryant) and at www.express.com.

About EXPRESS, Inc:
EXPRESS is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30-year-old customer. EXPRESS has more than 35 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The company currently operates more than 650 retail and factory outlet stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, Canada, and Puerto Rico. EXPRESS merchandise is also available at franchise locations in Latin America and the Middle East. EXPRESS also markets and sells its products through its e-commerce website, www.express.com, as well as on its mobile app.

1.USA Today Sports (2016) at < http://www.usatoday.com/story/sports/columnist/nancy-armour/2016/11/03/chicago-cubs-world-series-kris-bryant-cleveland-indians/93220794/ >

Contact:

Niki Starr
PR Manager
EXPRESS
646-502-4812
nstarr@express.

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EXPRESS congratulates Kris Bryant for being named Major League Baseball National League Most Valuable Player 2016
EXPRESS congratulates Kris Bryant for being named Major League Baseball National League Most Valuable Player 2016

SOURCE: EXPRESS, Inc.