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 諮詢小組 分析師 Dana Telsey 重申了高風險評級 Express, Inc 紐約證券交易所代碼：EXPR），將目標股價從2美元上調至20美元。
The company will report 2Q23 results on Wednesday, September 6, before the market opens.
該公司將在市場開盤前於9月6日（星期三）公佈23年第二季度業績。
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公佈了本季度的初步業績，該公司表示，預計23財年第二季度的銷售額爲4億至4.5億美元，攤薄後的每股虧損爲0.50美元至0.60美元。
The preliminary earnings are within the previously announced guidance range.
初步收益在先前公佈的指導區間內。
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.
該分析師預計，經反向股票拆分調整後，第二季度每股收益爲（11.11美元）。最重要的是，在補償下降10％的推動下，Telsey估計，銷售額同比下降5.2％，至4.41億美元。
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.
這位分析師認爲，該公司正在採取更積極的方法來降低成本，在2023財年節省了8000萬美元，高於之前的6500萬美元，裁員了3000萬美元，並努力提高了毛利率。
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.
分析師指出，節省成本有助於提高公司長期努力的知名度，以推動盈利能力和現金流的改善，尤其是在不確定的宏觀環境下。
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，鑑於競爭激烈的零售環境、向WHP Global支付品牌許可的最低特許權使用費所帶來的利潤壓力，以及各種產品仍在進行中，分析師維持了高風險評級。
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，分析師預計毛利率將收縮840個基點至24.7％，與24.9％的共識大致一致。
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預計，銷售和收購將去槓桿化340個基點，而總運營支出預計將在本季度去槓桿化240個基點至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.
總而言之，Telsey預計營業利潤率將從去年（2.2％）的利潤率收縮1,080個基點至（8.5％）。
Price Action: EXPR shares are trading higher by 2.00% to $10.20 on the last check Thursday.
價格走勢： 在週四的最後一張支票中，EXPR股價上漲2.00％，至10.20美元。
譯文內容由第三人軟體翻譯。