Express 3Q Net Down 7.6% On Surging Tax Costs; View Raised

Express Inc.'s (EXPR) earnings fell 7.6% in its fiscal third quarter on a much higher tax expense. But the retailer's shares were up 1.5% at $16 after hours as it raised its earnings projection for the year by 4 cents to $1.31 to $1.37 a share and predicted 45 cents to 51 cents for the fourth quarter. Analysts' average estimate was 45 cents. Express, which also sees same-store sales rising by a low- to mid-single-digit percentage this quarter, sells work and casual clothing for customers in their 20s and 30s. Since breaking off from retailing giant Limited