Men's Wearhouse Profit Tops Estimates, Sales Misses; Stock Down 6%

(RTTNews) - Men's Wearhouse Inc (MW) on Tuesday reported second-quarter net earnings of $47.8 million or $0.98 per share compared with $12.3 million or $0.25 per share last year.

Excluding items, adjusted earnings for the quarter were $1.07 per share.

Revenues for the quarter were up at $920.1 million compared with $803.1 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.05 per share on revenues of $946.8 million for the quarter. Analysts' estimates typically exclude special items.

Comparable sales increased 3.1% at Men's Wearhouse, 0.7% at Moores and 6.7% at K&G, while it was down 9.4% at Jos. A. Bank.

For the full year 2015, the company still expects earnings of $2.70 to $2.90 per share, while analysts expect $2.87 per share.