Casual Male Retail Group (CMRG) Tops Q2 EPS by 5c; CEO Comments on Outlook

August 25, 2009 7:11 AM EDT

Casual Male Retail Group, Inc. (Nasdaq: CMRG) reports Q2 EPS of $0.09, 5 cents better than estimates. Revenues were $98.3 million vs. $102.00 million consensus.

CEO says, "Our expectations for fiscal 2009 remain largely unchanged from the guidance that we provided at the end of the first quarter of fiscal 2009. We expect":

Sales for the year to be approximately 10%-12% less than last year, merchandise margins to improve between 275 to 325 basis points, partially offset by unfavorable leveraging of fixed occupancy costs of
approximately 180 basis points, cost savings in SG&A of approximately $26.0 million, resulting in SG&A for the year of approximately $151.0 million, or a decrease of 15% over the prior year.

Free Cash Flow for fiscal 2009 to approximate between $20.0-$25.0 million and overall debt levels are anticipated to decline to $25.0-$30.0 million by the end of fiscal 2009.

[SM]

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