The shares of fashion retailer Express, Inc. (NYSE:EXPR) are trading 17.40% higher in trading today after strong second quarter financial results were released by the company this morning. The apparel company reported earnings per share of $0.25 against market expectations of $0.16. Its net sales topped the analysts’ estimates of $502.1 million with reported quarterly sales of $535.6 million. The shares of Express, Inc. (NYSE:EXPR) touched their 52-week high of $20.26, propelled by these quarterly results. On a year-over-year basis, the sales improved by 11% and the net income increased more than three-fold. The e-commerce sales of the specialty apparel company were up by 21% in the second quarter, to $75 million. The strong results allowed the company to upgrade its annual EPS guidance to a range of between $1.30 to $1.37 against previous guidance of $1.11 to $1.22 per share.
The shares of Express, Inc. (NYSE:EXPR) have enjoyed a successful run in 2015, with year-to-date growth of 30.53%. The apparel company gained popularity among the hedge funds in our database during the second quarter of this year. Out of 737 actively-reporting hedge funds that we track at Insider Monkey, 30 held equity positions worth $216.99 million in the company. The aggregate holdings were up by 17.21% in comparison with the previous quarter, while the number of hedge funds with stakes in the company rose by ten. The shares of Express, Inc. (NYSE:EXPR) were up by 9.56% during the second quarter, indicating additional purchases were made by hedge funds.
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Keeping an eye over insider activity can help investors identify key management sentiment that can indicate growth within the company. In terms of insider activity, Express, Inc. (NYSE:EXPR) has remained inactive in 2015, save for one insider sale transaction. Jeanne St. Pierre, Executive Vice President of Stores at Express, Inc., sold 7,000 shares of the company on June 8.