Express has two stores in the Dayton area, including The Greene Town Center and the Dayton Mall. The location for store closures have not been announced.
Wall Street analysts had expected the retailer to report earnings of 14 cents per share. The news sent Express’ stock price down by more than 9 percent in after-hours trading.
“We had anticipated a very challenging first quarter, but our actual results were weaker than planned,” said Michael Weiss, the company’s chairman and CEO. “Our business strengthened in April, but not to the degree that we anticipated when we formulated our first-quarter guidance.
“While external challenges contributed to the decline in our first-quarter performance, we also did not execute as well as we could have.”
Express sales decreased to $460.7 million during the quarter, down from $509.4 million from the same period a year ago. Wall Street analysts had expected sales of $464 million.
The Associated Press contributed to this story.