Express to close 100 stores, stock jumps 21%

Clothing retailer Express will close 100 stores by 2022, joining the growing group of retail chains that have announced large-scale closures in recent years. The announcement, part of Express’s plan to reduce costs by $80 million over the next three years, led the company’s stock price to jump 20.7 percent, up to $5.01 per share as of the market’s close on Wednesday. Express said it expects to save $25 million through process improvements, including inventory

source https://therealdeal.com/2020/01/22/express-to-close-100-stores-stock-jumps-21/