Weather Is Excuse for Low Sales: Express CEO

“Weather is a cop-out excuse” for poor sales, Michael Weiss, president and CEO of the clothing retailer Express told CNBC Wednesday.

“The cold weather does [affect sales],” said Weiss, whose inventory attracts women shoppers in the 20s and 30s.

“Wherever it’s [weather is] bad, someplace else it’s good if you’re a national chain.”

Weiss said that December, which started slow, ended “very, very well,” and that Express had the best Black Friday ever.

He added that higher commodity prices don’t really erode profits because the company buys yarn and fabric far in advance.

Weiss said that those in their twenties have more disposal income than those in their thirties. “They make less money, but they have more money to spend,” said Weiss.

“They don’t have alimony, they don’t have child support, they don’t have tuition, and what they do have, they spend it on themselves.”