Mens Wearhouse (MW) Reports Q1 EPS of $0.65, Offers Guidance
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Mens Wearhouse, Inc. (NYSE: MW) reported Q1 EPS of $0.65, $0.10 better than the analyst estimate of $0.55.
The Company estimates that approximately $0.10 of the increase is attributable to a tuxedo prom season shift from the second quarter. This shift is primarily caused by an earlier Easter.
Revenue for the quarter came in at $616.5 million versus the consensus estimate of $604.74 million.
2013 GUIDANCE
The Company continues to expect diluted earnings per share in a range of $2.70 to $2.80. However, the Company now expects Men's Wearhouse tuxedo rental revenue comparable store sales growth to come in slightly lower to a range of +4% to +5%. Ewert stated, "The future reservations are running slightly below our initial expectations." The Moores comparable store sales are now expected to be -2% to -3% on an annual basis as a result of a continued decrease in average transactions per store. These decreases are being primarily offset by a favorable retail margin rate and lower SG&A expenses.
For earnings history and earnings-related data on Mens Wearhouse, Inc. (MW) click here.
The Company estimates that approximately $0.10 of the increase is attributable to a tuxedo prom season shift from the second quarter. This shift is primarily caused by an earlier Easter.
Revenue for the quarter came in at $616.5 million versus the consensus estimate of $604.74 million.
2013 GUIDANCE
The Company continues to expect diluted earnings per share in a range of $2.70 to $2.80. However, the Company now expects Men's Wearhouse tuxedo rental revenue comparable store sales growth to come in slightly lower to a range of +4% to +5%. Ewert stated, "The future reservations are running slightly below our initial expectations." The Moores comparable store sales are now expected to be -2% to -3% on an annual basis as a result of a continued decrease in average transactions per store. These decreases are being primarily offset by a favorable retail margin rate and lower SG&A expenses.
For earnings history and earnings-related data on Mens Wearhouse, Inc. (MW) click here.
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