: Express’ stock bounces off record low losses come in within the expected range, term loan secured


Shares of Express Inc. EXPR rose 2.6% in premarket trading Wednesday, to bounce off the previous session’s record low, after the fashion apparel retailer reported fiscal second-quarter results that were in line with expectations and said it secured a $65 million term loan to bolster liquidity. For the quarter to July 29, the company swung to a net loss of $44.1 million, or $11.79 a share, from net income of $7.0 million, or $2.05 a share, in the year-ago period. The per-share loss was in line with guidance of $10 to $12, which was adjusted from actual guidance of 50 cents to 60 cents as a 1-for-20 reverse stock split…

This article was originally published by Marketwatch.com. Read the original article here.

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