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Express CEO on growing e-commerce, improving stores, and supply chains

Express CEO on growing e-commerce, improving stores, and supply chains

In the midst of the holiday season, Express, the retail company known for its turtlenecks and stylish apparel, is seeing strong sales and positive outlook. Tim Baxter, the CEO of Express, recently discussed the company's performance and future plans in an interview. He highlighted the resurgence of occasion-based categories like suits and dresses, as well as the growth in denim and versatile knit tops. Baxter also addressed supply chain challenges and the strategic measures his team has taken to mitigate them. Despite a decline in stock price, Baxter expressed confidence in the company's long-term vision and commitment to returning shareholder value.

Summary

  • Express is experiencing a strong start to the holiday season and has seen sales rise 47% from last year.
  • The company's focus on occasion-based categories like suits and dresses has led to a resurgence in those areas, with over a 20% increase in men's suits and women's dresses.
  • Express is also seeing growth in categories like denim and versatile knit tops.
  • The company has strategically managed its supply chain challenges, coming into the fourth quarter with more inventory than in 2019.
  • Despite facing some supply chain delays, Express is well-positioned to meet consumer demand and capitalize on the holiday season.
  • Express aims to deliver quality, value, and fashion that sets them apart in the marketplace and resonates with their customer base.
  • The company has a long-term transformation strategy in place and is focused on returning shareholder value.

Keywords

Express, holiday season, sales growth, occasion-based categories, suits, dresses, denim, versatile knit tops, supply chain challenges, inventory management, consumer demand, value proposition, shareholder value, long-term strategy.

FAQ

  1. How is Express performing in the holiday season? Express is experiencing a strong start to the holiday season, with sales rising 47% from last year. The company is confident in its outlook for the fourth quarter and the rest of the year.

  2. What categories are driving Express' sales growth? Occasion-based categories like suits and dresses have seen a resurgence, with over a 20% increase in men's suits and women's dresses. Additionally, there has been growth in categories like denim and versatile knit tops.

  3. How has Express managed supply chain challenges? Express has strategically managed its supply chain challenges by coming into the fourth quarter with more inventory than in 2019. The company has also made adjustments to delivery schedules and plans to fuel the outlet business with delayed products in the future.

  4. What sets Express apart in the retail landscape? Express delivers quality, value, and fashion that resonates with their customer base. They offer contemporary styles at competitive prices, providing a unique value proposition compared to other fashion brands.

  5. How does Express plan to return shareholder value? Express is focused on its long-term transformation strategy and is committed to returning shareholder value. The company aims to demonstrate the success of its Expressway Forward strategy in the coming year and achieve its goal of delivering $100 million in operating profit by 2024.