Express, a Columbus, Ohio-based retail apparel brand and retailer, has filed for a $200 million IPO. It plans to trade under ticker symbol EXPR, with Goldman Sachs and BoA Merrill Lynch serving as co-lead underwriters.
The company reports around $1.74 billion in net sales for the first 39 weeks of 2009 (through Oct 31), compared to $1.23 billion for the same period in 2008. Its net income for the 2009 period was around $29 million, compared to a $1.89 million loss the previous year.
Golden Gate Capital acquired a 67% interest in Express in July 2007, for $548 million. The seller was Limited Brands Inc. (NYSE: LTD), which remains an Express shareholder. www.express.com