The Men’s Wearhouse, Inc. (NYSE: MW) 2Q Results Beat Expectation & Guidance for 3Q Looks Conservative


Late Wednesday, The Men’s Wearhouse, Inc. (NYSE:MW) reported second fiscal quarter adjusted EPS of $1.11, above consensus of $1.04 on strong tailored clothing demand and strategic promotions.

For the fiscal second quarter, the company reported a profit of $57.1 million, or $1.09 a share, up 33% year over year from $43 million, or 81 cents a share, a year earlier.

Excluding $1.7 million one time items such as acquisition integration expenses, the company posted adjusted EPS of $1.11 from 84 cents a year ago.

Sales during the quarter rose 22.1% year over year to $655.5 million from $537 million in the same quarter a year earlier & above the consensus estimate of $643.63 million.

Gross margin dipped 120 basis points to 47.2% as occupancy leverage was offset by lower retail clothing margins and mix of corporate apparel while SG&A improved 150 basis points.

The company raised its FY2011 outlook to $2.13 to $2.20 a share on a sales increase of 12.5% to 13.5% from $2.04 to $2.12 a share on 12% to 13% sales growth versus the consensus of $2.11 a share. It also forecasted its third fiscal quarter outlook to 64 to 66 cents a share on sales growth of 3% to 4% versus the consensus of 64 cents a share.

Shares of the North America’s largest specialty retailers of men’s apparel fell 1.39% to $29.11 in after-hours after climbing 4.65% in the regular session. The 52 week range of the stock is $20.60 – $36.44. Currently, the market capitalization of the stock stands at $1.52 billion with P/E of 19.27 and beta of 1.59.

The Men’s Wearhouse, Inc. (The Men’s Wearhouse), incorporated in May 1974, is a specialty retailer of men’s suits and a provider of tuxedo rental product in the United States and Canada.

Disclaimer:

The assembled information distributed by headlineotc.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Headlineotc.com does expect that investors will buy and sell securities based on information assembled and presented herein. Headlineotc.com will not be responsible in any way for or accept any liability for any losses arising from an investor’s reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.

Our Research Report on is now available. Don´t Trade until you Read our FREE FULL REPORT. Click Here