Shares of Express fell 8.4 percent Wednesday after the company reported disappointing quarterly results and gave lower full-year guidance.
The apparel and accessories retailer reported first-quarter earnings of 25 cents per share, missing consensus estimates by 2 cents, according to Thomson Reuters. Sales came in at $502.9 million versus consensus expectations of $521.4 million.
Express, which targets 20 to 30-year-old customers, saw a 3 percent decline in comparable sales. E-commerce also fell 1 percent, with sales of $77 million.
The company's 640 retail and outlet stores are in located primarily in high-traffic shopping malls, which have taken a hit this year as consumers continue to shop online.