Tailored Brands Inc. (NYSE: TLRD) released its fiscal second-quarter financial results after the markets closed on Wednesday. The company said that it had $1.07 in earnings per share (EPS) and $823.4 million in revenue, compared with consensus estimates of $1.07 in EPS and $828.36 million in revenue. The same period of last year reportedly had $1.19 in EPS and $850.76 million in revenue.
During the quarter, comparable sales for the company increased by 1.7%.
In terms of its segments, the company reported:
- Men’s Wearhouse net sales decreased 3% year over year to $445.2 million, with comparable sales increasing 1.0%.
- Jos. A Bank net sales decreased 1.1% to $172.4 million, with comparable sales increasing 2.0%.
- K&G net sales decreased 2.5% to $83.6 million, with comparable sales increasing 3.5%.
- Moores net sales increased 2.0% to $66.6 million, with comparable sales increasing 3.7%.
- Corporate Apparel net sales decreased 3.9% to $55.5 million.
Looking ahead to the 2018 fiscal full year, the company expects to see EPS in the range of $2.35 to $2.50. Consensus estimates call for $2.50 in EPS and $3.31 billion in revenue for the full year.
Doug Ewert, Tailored Brands CEO, commented:
We are pleased to report positive comparable sales for all of our retail brands this quarter. We executed well on growing our custom business and on increasing transactions through brand marketing campaigns and enhanced omni-channel initiatives. I am also pleased with the progress we are making to move to a leaner, more efficient inventory model, which is particularly important as custom clothing becomes a larger percentage of our mix. With leaner inventories, we can improve the customer experience and free-up working capital.
Shares of Tailored Brands were last seen up 20% at $28.73, with a consensus analyst price target of $34.50 and a 52-week range of $13.11 to $35.94.
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