Express, Inc.

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American fashion company

title: "Express, Inc." type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["2010-initial-public-offerings", "american-companies-established-in-1980", "clothing-retailers-of-the-united-states", "clothing-brands-of-the-united-states", "companies-based-in-the-columbus,-ohio-metropolitan-area", "companies-formerly-listed-on-the-new-york-stock-exchange", "companies-that-filed-for-chapter-11-bankruptcy-in-2024", "defunct-retail-companies-of-canada", "retail-companies-established-in-1980", "1980-establishments-in-illinois", "2024-mergers-and-acquisitions"] description: "American fashion company" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/Express,_Inc." license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American fashion company ::

::data[format=table title="Infobox company"]

FieldValue
nameExpress, Inc.
imageExpress Store Closing inside Southern Park Mall.jpg
image_captionExpress closing inside the Southern Park Mall in Boardman, Ohio.
typePublic
traded_as

| | foundation | (as Limited Express) Chicago, Illinois, U.S. | | location | Columbus, Ohio, U.S. | | areas_served | United States, Canada (online only), Puerto Rico, Mexico, Panama, Costa Rica, Guatemala, El Salvador | | locations | 500+ (2021) | | key_people | Stewart Glendinning (CEO) | | products | {{flatlist| | | industry | Retail | | revenue | US$1.87 billion (2021) | | operating_income | US$ 0.7 million (2021) | | net_income | US$ -14.4 million (2021) | | assets | US$ 1.25 billion (2021) | | num_employees | 10,000 (2021) | | subsid | Express | | website | | ::

| name = Express, Inc. | image = Express Store Closing inside Southern Park Mall.jpg | image_caption = Express closing inside the Southern Park Mall in Boardman, Ohio. | type = Public | traded_as =

| foundation = (as Limited Express) Chicago, Illinois, U.S. | location = Columbus, Ohio, U.S. | areas_served = United States, Canada (online only), Puerto Rico, Mexico, Panama, Costa Rica, Guatemala, El Salvador | locations = 500+ (2021) | key_people = Stewart Glendinning (CEO) | products = {{flatlist|

  • Apparel
  • accessories
  • personal care
  • footwear | industry = Retail | revenue = US$1.87 billion (2021) | operating_income = US$ 0.7 million (2021) | net_income = US$ -14.4 million (2021) | assets = US$ 1.25 billion (2021) | num_employees = 10,000 (2021) | subsid = Express UpWest Bonobos | website = ::figure[src="https://upload.wikimedia.org/wikipedia/commons/1/11/ExpressFairview.jpg" caption="An Express store"] ::

Express, Inc. is an American fashion retailer whose portfolio includes Express, Bonobos and UpWest. It operates an omnichannel platform as well as physical and online stores.

Headquartered in Columbus, Ohio and trading on the OTC Pink under the symbol EXPR, it operates more than 500 stores in the United States, Puerto Rico, Mexico, Costa Rica, Panama, El Salvador and Guatemala.

History

Limited Brands opened the first Express store in 1980 as women's clothier "Limited Express" in Chicago's Water Tower Place. The store leaned heavily into the colorful trends of the 1980s as well as a faux French aesthetic. Former CEO Michael Weiss joined the brand in 1981 when the test expanded to include eight stores. The store dropped Limited from its name the following year.

By 1986, Express had 250 stores and began to transition away from neon lights, artificial fabrics, and bright colors. It started testing the sale of men's merchandise in 15 stores the following year. The men's fashion line was spun off into its own brand, Structure, in 1989. By 1991, Express had 600 stores and exceeded $1 billion in profit.

In 2001, Express became a dual gender brand with the reintegration of its Structure stores as "Express Men". Dual gender Express stores began opening the following year. Structure apparel brand was sold to Sears in 2003.

Express brought in $1.7 billion in net sales in 2006. In May 2007, Limited Brands announced its intent to sell a 67% stake in Express to an affiliate of a private equity firm called Golden Gate Capital Partners, based in San Francisco. When the sale was finalized in July 2007, Golden Gate's paid $484.9 million for a 75% stake in the company.

By January 2010, the company had 573 stores and generated $1.72 billion in net sales the year prior. The company held an IPO in May 2010, ultimately pricing its shares below the expected range. Soon after, Golden Gate and Limited Brands began divesting from the company. In July 2011, Limited Brands sold its remaining ownership interest. In March 2012, Golden Gate sold its remaining ownership interest.

By 2014, sales had been down over the previous two years. In June, Sycamore Partners announced it had acquired a 10% stake in Express, with the intention of buying the whole company. However, by January 2015, Sycamore had ended its pursuit.

In November 2019, Express announced spinoff UpWest, a DTC lifestyle brand geared towards health, wellness, and sustainability. With the launch of UpWest also came its philanthropic arm, The UpWest Foundation, which will donate 1% of total sales up to $1million towards Mental Health America, Random Acts and Freedom Dogs of America.

In April 2023, Express, Inc and management firm WHP Global agreed to acquire Bonobos from Walmart for $75 million, with Express paying royalties to WHP.

Bankruptcy

In August 2023, Express announced it would be laying off 150 workers in effort to achieve $150 million in annualized expense reductions by the end of 2025. On October 24, it warned that it may have to file for Chapter 11 bankruptcy protection as it has been hit hard from the COVID-19 pandemic, stating store sales have been declining for years and rising costs putting the company in heavy debt.

In February 2024, Express warned it was preparing for a debt restructuring process and a bankruptcy filing within the upcoming weeks, and had hired M3 and Kirkland & Ellis to advise the firm on discussions with lenders and bondholders.

On April 2, Express warned that it could file for bankruptcy as soon as the following week as it asked for lenders to help finance the bankruptcy procedure. It was having trouble paying its creditors. As a result, Express' stock fell approximately 14%.

On April 22, Express and all of its affiliated subsidiaries declared Chapter 11 bankruptcy in the United States, listing assets and liabilities between $1 billion and $10 billion. In addition to announcing plans to close 95 Express stores and all of its UpWest stores and begin a two-month liquidation sale at the affected locations, the company received a non-binding letter from WHP Global for the sale of most of its stores, operations, and assets.

Also on April 22, a day before warning that it could be forced to liquidate if it was unable to complete a proposed buyout within the next 30 days, Express reported that it would sell itself in Chapter 11 to a group led by Simon Property Group (SPG) and Brookfield Properties, and also warned that more closures could come within weeks.

On June 25, 2024, after receiving court approval, it was announced that the company had its assets acquired by PHOENIX, a joint venture led by WHP Global, SPG and Brookfield Properties.

Design studio

Express clothes are designed at the Express Design Studio on 111 Fifth Avenue New York City, New York in Manhattan's Flatiron District.

References

References

  1. "Shop Men's and Women's Clothing". Express.
  2. "Inline XBRL Viewer".
  3. "Express, Inc. Reports Strong Fourth Quarter 2021 Results and Positive Operating Income for Full Year 2021".
  4. "Express, Inc. (EXPR) Income Statement - Yahoo Finance".
  5. (September 30, 2019). "Terms & Conditions".
  6. REED, MATT. (2007-05-15). "Limited to Sell Most of Express Brand". The Washington Post.
  7. "The Express Way". Chicago Tribune.
  8. Schiro, Anne-Marie. (1989-12-31). "Fashion; Two New Stores That Cruise Fashion's Fast Lane". The New York Times.
  9. Strom, Stephanie. (1992-04-21). "Chain Takes Fashion Tongue-in-Chic". The New York Times.
  10. Ap. (1987-05-19). "Limited to Sell Men's Clothing". The New York Times.
  11. Palmieri, Jean E.. (2010-09-16). "The Guys Have It".
  12. (2003-09-16). "Sears Buys Structure Apparel Brand". Los Angeles Times.
  13. (May 12, 2010). "Apparel Retailer Express Prices 16 Mln IPO At $17/share, Below Estimated Range - Update".
  14. Dealbook. (2010-02-17). "Retailer Express Eyes $200 Million I.P.O.".
  15. Dealbook. (2010-05-13). "Express Prices I.P.O. Below Expected Range".
  16. Feran, Tim. (December 7, 2011). "16M shares of stock in Express will be sold".
  17. Meikle, Brad. (2011-03-22). "Golden Gate To Sell Shares In Express Inc.".
  18. "Description of Business and Basis of Presentation".
  19. de la Merced, Michael J.. (2014-06-12). "Sycamore Takes 10% Stake in Express and Seeks a Deal".
  20. Alden, William. (2015-01-20). "Sycamore Partners Ends Effort to Acquire Express, a Clothing Retailer".
  21. Moore, Kaleigh. "Express Launches UpWest, A New Lifestyle Spinoff Brand".
  22. Edelson, Sharon. "WHP Global And Express Inc. {{as written".
  23. Delesline III, Nate. (August 18, 2023). "Express plans layoffs, reverse stock split".
  24. Kline, Daniel. (October 24, 2023). "Popular mall retailer facing potential Chapter 11 bankruptcy".
  25. (February 12, 2024). "Express Prepares for Debt Restructuring and Possible Bankruptcy Within Weeks".
  26. Fonrouge, Gabrielle. (2024-04-04). "Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'".
  27. (April 2, 2024). "Retailer Express Holds Talks for Bankruptcy Financing".
  28. Bhatnagar, Parija. (2024-04-22). "Express files for bankruptcy; closing more than 100 stores {{!}} CNN Business".
  29. (April 22, 2024). "Apparel retailer Express files for US bankruptcy protection, to close over 100 stores".
  30. Randles, Jonathan. (April 23, 2024). "Express Risks Liquidation If Buyout Deal Can't Be Reached Soon".
  31. Moss, Linda. (April 22, 2024). "Express Is Closing Over 100 Stores as Mall Titans Simon, Brookfield Seek To Buy Its Assets".
  32. Baker, Ryan. (July 10, 2024). "How bankruptcy saved Express".
  33. "PHOENIX Closes Acquisition of Retail Operating Assets from Express Inc.". PR Newswire.
  34. "Explore Design Studio Job Opportunities at Express, Apply Online". Express.com.

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2010-initial-public-offeringsamerican-companies-established-in-1980clothing-retailers-of-the-united-statesclothing-brands-of-the-united-statescompanies-based-in-the-columbus,-ohio-metropolitan-areacompanies-formerly-listed-on-the-new-york-stock-exchangecompanies-that-filed-for-chapter-11-bankruptcy-in-2024defunct-retail-companies-of-canadaretail-companies-established-in-19801980-establishments-in-illinois2024-mergers-and-acquisitions