E-commerce accounts for more than 15% of Express Inc.’s Q1 sales
May 28, 2015 11:39 AM
Express Inc.’s online sales grew 12.5% in its fiscal first quarter, outpacing the youth-oriented apparel retailer’s 9.1% overall sales growth.
For the fiscal first quarter ended May 2, Express, No. 102 in the Internet Retailer 2015 Top 500 Guide, reported:
- E-commerce sales rose 12.5% to $77.6 million from $69.0 million.
- Total sales grew 9.1% to $502.4 million from $460.7 million.
- Comparable-store sales, including e-commerce, grew 7%.
- Net income was up 156.9%, to $13.1 million from $5.1 million.
E-commerce represented 15.4% of total sales in the first quarter this year versus 15.0% last year.
The year is off to a strong start, says David Kornberg, president and CEO. “Our customers responded with enthusiasm to our assortment while we intensified our inventory discipline and scaled back our promotional activity,” he says.