Columbus, Ohio -- Express Inc. reported a 25% increase in net income for the second quarter. But the retailer slashed its profit outlook for the year and said that same-store sales barely rose last quarter and that it expects about the same for the rest of the year.
Express earned $15.8 million for the quarter ended July 28, better than analysts expected, compared with $12.6 million in the year-ago period.
Revenue increased 2% to $454.9 million, short of the $467 million analysts had expected. Same-store sales inched up 1%.