UPDATE: Mens Wearhouse, Inc. (MW) Misses Q2 EPS by 13c, FY Guidance Light
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(Updated - September 11, 2013 5:37 PM EDT)
Mens Wearhouse, Inc. (NYSE: MW) reported Q2 EPS of $1.01, $0.13 worse than the analyst estimate of $1.14. Revenue for the quarter came in at $647 million versus the consensus estimate of $671 million.
Mens Wearhouse, Inc. sees FY2013 EPS of $2.40-$2.50, versus the consensus of $2.77. Mens Wearhouse, Inc. sees FY2013 revenue of $647.3 million, versus the consensus of $669.5 million. Company lowered comp guidance by 2%.
Doug Ewert, Men's Wearhouse president and chief executive officer, commented, "Retail clothing sales during the second quarter were below our internal plan as we experienced a decline in customer traffic compared to last year's second quarter. We believe this is primarily due to macro issues affecting the apparel retailing space.
"We are being cautious as we face macro-economic headwinds. However, we believe our operating and capital allocation plans, our margin enhancement strategies, including new store openings and the expansion of exclusive brands, and our new omni-channel marketing initiatives introduced in 2013 position us to grow market share as we manage through this," Ewert concluded.
For earnings history and earnings-related data on Mens Wearhouse, Inc. (MW) click here.
Mens Wearhouse, Inc. (NYSE: MW) reported Q2 EPS of $1.01, $0.13 worse than the analyst estimate of $1.14. Revenue for the quarter came in at $647 million versus the consensus estimate of $671 million.
Mens Wearhouse, Inc. sees FY2013 EPS of $2.40-$2.50, versus the consensus of $2.77. Mens Wearhouse, Inc. sees FY2013 revenue of $647.3 million, versus the consensus of $669.5 million. Company lowered comp guidance by 2%.
Doug Ewert, Men's Wearhouse president and chief executive officer, commented, "Retail clothing sales during the second quarter were below our internal plan as we experienced a decline in customer traffic compared to last year's second quarter. We believe this is primarily due to macro issues affecting the apparel retailing space.
"We are being cautious as we face macro-economic headwinds. However, we believe our operating and capital allocation plans, our margin enhancement strategies, including new store openings and the expansion of exclusive brands, and our new omni-channel marketing initiatives introduced in 2013 position us to grow market share as we manage through this," Ewert concluded.
For earnings history and earnings-related data on Mens Wearhouse, Inc. (MW) click here.
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