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Express beats earnings estimates as e-commerce demand soars in Q1

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Yahoo Finance Live anchors discuss first-quarter earnings for retail company Express.

Video Transcript

JULIE HYMAN: Let's talk about one more retailer as well. That is Express. And this is another one that's going in the positive direction. Now, it was actually up, I think, as much as 18% in pre-market trading. So it's pared down some of that. Now it's up by about 5%. This is another retailer, by the way, that's done pretty badly. It's down about 40% in the past year. But sales in the last quarter up 30%. The company posted a little bit of a smaller loss than estimated. And comp sales up by 31%. This is an unusual stat from the report-- gross margin actually expanded and came in better than estimated--

JARED BLIKRE: Yeah, go figure.

JULIE HYMAN: --29.2%, which has become--

JARED BLIKRE: Makes me wonder--

JULIE HYMAN: --increasingly rare.

JARED BLIKRE: Makes me wonder what they were doing before. Let's go to the YFi Interactive again. We report on these big outsized movers, but let's keep in mind, this is a highly volatile market right now. Everything's moving by large percentages. And you can see on your screen now, this stock is down 86% over the last 10 years. This stock has been around forever. Let me go to a max chart and see exactly when they IPO'ed. OK, well, so this is about 10 years. And in this time, their landscape has changed.

And so, I think the entire sector is trying to move forward and retool. And also, the partnerships that we're seeing are going to be key here because nobody really knows what the retail landscape is going to look like in five years, in 10 years. But just take a look at a year to date, and tell me this is not even a bifurcated market. This is a market that has just gotten absolutely hammered. And this is year to date.

JULIE HYMAN: Well, remember, Express also got meme-ified a little bit.

JARED BLIKRE: Oh, that's right. It did.

JULIE HYMAN: So it did get a little bit of buying there here and there. But it didn't, obviously, last.

JARED BLIKRE: The meme stuff doesn't seem to stick.

JULIE HYMAN: No, not anymore.

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