COLUMBUS, Ohio--(BUSINESS WIRE)-- Fashion apparel retailer Express, Inc. (NYSE: EXPR) today provided details on store reopening plans as well as additional business updates in response to the COVID-19 pandemic.
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Express storefront at Easton Town Center in Columbus, Ohio. (Photo: Business Wire)
Store Reopening Plans
In accordance with the latest federal and state guidelines, and with adherence to new health and safety protocols, the Company currently expects to reopen approximately 300 of its stores before Memorial Day. Beginning with a few stores that opened last week in Georgia and South Carolina, the Company will be taking a phased approach with the pace and staffing calibrated to mall traffic and consumer demand, and the overall plan will be accelerated or modified based on the learning and any updated associate and customer safety measures.
"This is a very fluid situation, and we will continue to operate in an agile and adaptive manner. The health and safety of our associates and customers is our priority as we reopen our stores," said Tim Baxter, Chief Executive Officer. "We know that it will take time before consumer confidence and shopping activity reach pre-pandemic levels, but I am confident that the actions we have taken, and the elements of The EXPRESSway Forward strategy that we had already begun to activate, put us in a strong position to achieve our long term objectives."
The Company will take the following actions to provide a safe and comfortable environment for its associates and customers:
Open store locations and hours of operation are available at www.express.com. The Company’s website and mobile app remain available to customers.
The EXPRESSway Forward Strategy
Throughout this period of brick and mortar store closures and larger economic uncertainty, the Company has maintained the momentum of a number of key strategic initiatives, including the following:
Previously Communicated Actions
As announced in earlier press releases, the Company took the following actions to maintain sufficient liquidity throughout the COVID-19 crisis, and provided additional detail to quantify the impacts where appropriate:
Earnings Call and 2020 Annual Meeting of Shareholders
The Company today announced that its conference call to report first quarter 2020 financial results will be held at 9:00 AM EST on June 3, 2020.
The Company's 2020 Annual Meeting of Shareholders scheduled to take place at 8:30 AM EST on June 10, 2020 will be held as a virtual meeting.
About Express, Inc.:
Express is a leading fashion brand for women and men. Since 1980, Express has provided the latest apparel and accessories to help customers build a wardrobe for every occasion, offering fashion and quality at an attractive value. The company operates retail and factory outlet stores in the United States and Puerto Rico, as well as an online destination. For more information, please visit www.express.com.
Forward-Looking Statements:
Certain statements in this press release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict, and significant contingencies, many of which are beyond the Company's control. Important factors that could cause actual results to differ materially from these forward-looking statements are detailed in the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2020. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200504005721/en/
Investors: Dan Aldridgedaldridge@express.com (614) 474-4890 Media: Alysa Spittleaspittle@express.com (614) 474-4745
Source: Express, Inc.