Tailored Brands (TLRD) Misses Q1 EPS by 15c, Miss on Revenues; Reaffirms FY17 Guidance
Tailored Brands (NYSE: TLRD) reported Q1 EPS of $0.04, $0.15 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $782.9 million versus the consensus estimate of $793.28 million.
Tailored Brands sees FY2017 EPS of $1.60-$1.90, versus the consensus of $1.75.
FISCAL 2017 FULL YEAR OUTLOOK
- Earnings per Share: As previously announced, the Company expects to achieve diluted earnings per share in the range of $1.37 to $1.67, and adjusted diluted earnings per share of $1.60 to $1.90.
- Comparable Sales: The Company continues to expect comparable sales for Men's Wearhouse to be down low-single digits, Jos. A. Bank to increase mid-single digits, and Moores and K&G to be down mid-single digits.
- Tax Rate: The Company continues to expect the effective tax rate to be approximately 33%.
- Capital Expenditures: The Company continues to expect capital expenditures of approximately $90 million.
- Real Estate: As previously announced, the Company plans to close all 170 tuxedo shops at Macy's in the second quarter. In addition, the Company now expects approximately net 20 store closures compared to its previous outlook of net 10 store closures, with the increase due to additional Jos. A. Bank store closures. The additional Jos. A. Bank closures resulted from the Company\'s continuous review of its real estate portfolio for opportunities to optimize its fleet as lease terms expire.
For earnings history and earnings-related data on Tailored Brands (TLRD) click here.