Express (EXPR, $5.34) posted narrower-than-expected loss for fiscal Q1

Fashion retail company Express posted a loss narrower than anticipated by analysts for its fiscal first quarter . The company also surpassed revenue estimates.

Express  quarterly net loss came in at -55 cents per share, vs. loss of -58 cents expected by analysts. Revenue surged +64% year-over-year to $345.8 million, compared to analysts’ expectation of $323 million.

Same-store sales climbed +11%, but was below the FactSet consensus estimate of +59.1% growth. Ecommerce demand increased over +40% and comparable outlet store sales dropped -19%. Express is  expecting same-store sales to rise sequentially throughout the year.

Gross margin rose to 22.8% of net sales, vs. - 22.0% a year ago.

Express stock has surged 615.4% year to date through Wednesday, amid the frenzy surrounding meme stocks.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.