Express 2015 Annual Report Download - page 22

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Table of Contents

The following discussion and analysis summarizes the significant factors affecting the consolidated operating results, financial condition, liquidity, and
cash flows of the Company as of and for the periods presented below. The following discussion and analysis should be read in conjunction with our
Consolidated Financial Statements and the related Notes included elsewhere in this Annual Report on Form 10-K. This discussion contains forward-
looking statements that are based on the beliefs of our management, as well as assumptions made by, and information currently available to, our
management. Actual results could differ materially from those discussed in or implied by forward-looking statements as a result of various factors, including
those discussed below and elsewhere in this Annual Report on Form 10-K, particularly in the section entitled “Risk Factors.” All references herein to
"2015," "2014," and "2013" refer to the 52-week periods ended January 30, 2016, January 31, 2015, and February 1, 2014, respectively.

Express is a specialty apparel and accessories retailer offering both women's and men's merchandise. We have over 35 years of experience offering a distinct
combination of style and quality at an attractive value, targeting women and men between 20 and 30 years old. We offer our customers an assortment of
fashionable apparel and accessories to address fashion needs across multiple wearing occasions, including work, casual, jeanswear, and going-out occasions.
2015 Highlights vs. 2014
Net sales increased 9% to $2.4 billion
Comparable sales increased 6%
Comparable sales (excluding e-commerce sales) increased 4%
E-commerce sales increased 11% to $392.7 million
Net sales per average gross square foot increased by $23 to $343
Operating income increased 52% to $207.2 million
Net income increased by 71% to $116.5 million
Earnings per diluted share increased 70% to $1.38
The following charts show the three year trend of key performance metrics:
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