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A slew of US clothing retailers trounce market expectations for the fiscal first quarter

Express, American Eagle Outfitters, Burlington Stores, J.Jill and Perry Ellis zip past Wall Street's profit estimates
Clothing
One decliner in a sea of quarterly beats is the smaller women's retailer Christopher & Banks

It’s another busy day for earnings reports, with a slew of big clothing retailers reporting fairly-rosy quarterly results today.

Shares in Express Inc (NYSE:EXPR) are up slightly in early trade after the mid-market clothing company beat Wall Street’s estimate by posting fiscal first-quarter earnings of US$0.01 per share on revenue of US$479.4mln. Analysts had projected that Express would post a loss of US$0.01 per share on revenue of US$463.9mln. Express also raised its guidance for the full fiscal year to US$0.37 to $0.47 per share.

American Eagle Outfitters (NYSE:AEO) also came in slightly ahead of Wall Street’s estimate in reporting a $0.23 per share gain on revenue of US$823mln. CEO Jay Schottenstein put the credit for his group’s strong showing on jeans and its Aerie lingerie brand and investors applauded, sending the group’s shares up 3.4% to US$23.38 this morning. The consensus estimate was for $0.22 per share on revenue of US$806.5mln.

Elsewhere, Burlington Stores (NYSE:BURL), the discount seller of coats, footwear and other goods, zipped past the market’s estimate to post fiscal first-quarter earnings of US$1.26 per share on revenue of US$1.52bn. The average estimate came in lower at US$1.09 per share on revenue of US$1.49bn. Burlington shares jumped 7.9% to US$147.00 in morning trade after the company said it now expects its fiscal year earnings to fall between US$5.90 to US$6.00 per share.

J.Jill (NYSE:JILL), the women’s retailer, whizzed past Wall Street’s projections too and reported fiscal first-quarter earnings until the close of April of US$0.29 per share on revenue of US$181.5mln. The Wall Street estimate was for earnings per share of US$0.18 on revenue of US$160mln. In response, buyers of J.Jill stock pushed its shares up by 18.7% to US$7.36.

The men’s retailer Perry Ellis Int (NASDAQ: PERY) crushed market estimates as well and posted first-quarter earnings over the same three months of US$0.78 per share on revenue of US$255mln, helped by sales of golf clothes and swim wear. The consensus earnings estimate was for US$0.66 per share on revenue of US$235.4mln. Investors appeared satisfied with the solid results and drove shares 6% higher to US$28.36 this morning. Perry Ellis is sticking with its fiscal-year earnings guidance of US$1.80 to US$1.90 per share on revenue of US$855mln to US$865mln.

One decliner in a sea of mainly quarterly beats is the women’s retailer Christopher & Banks (NYSE:CBK) which reported a fiscal first-quarter loss of US$0.14 per share on revenue of US$85.9mln. Investors sent its shares down by an eye-watering 31.2% to US$0.75 in early trade after the retailer fell short of the consensus estimate of US$0.08 per share.

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