Retailer Express cuts profit outlook, shares slump

Specialty apparel retailer Express Inc reported lower-than-expected quarterly results and cut its full-year earnings guidance as it goofed up on its strategy to move sales to pricier-knitted tops for women. Photo: ExpressThe company's stock, which fell as much as 29 percent in morning trading, was the top loser on the New York Stock Exchange. Express, which sells clothes and accessories to 20- to 30-year-old men and women, has been shifting its knit-top offerings from plain low-margin clothes

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