S&P: Express view to negative

Standard & Poor’s said it revised the outlook on Express Inc. to negative from stable.

The agency also said it affirmed the company’s BB corporate credit rating.

The outlook revision reflects an expectation that operating performance will continue to be under pressure in the remainder of 2014 and into 2015, the agency said.

S&P said it believes the specialty apparel industry will remain difficult and highly promotional because of increased competition and consumer caution and Express may not be able to adequately offset these trends.

The company’s performance and credit metrics weakened in recent quarters. Despite a forecast of some modest improvement in 2015, the agency said it expects credit metrics to remain at a weakened level.

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