Why Express Stock Slowed Considerably This Week
Over the past few days, retail stocks as a group have recovered in price, some quite dramatically.
Some, but not all. One instance of the latter is clothier Express (NYSE: EXPR), whose stock according to S&P Global Market Intelligence was down by over 21% week to date as of early Friday morning before market open. Investors remained cautious about the company despite the estimates-beating quarter it reported over the course of the week.
The surprisingly weak first-quarter results of onetime retail investor darling Target, published last Wednesday, sent shock waves throughout the sector. One typical reaction was that of Citigroup analyst Paul Lejuez, who on Monday downgraded a clutch of popular retail stocks.
Source Fool.com
