Tailored Brands (TLRD) Tops Q2 EPS by 6c
Tailored Brands (NYSE: TLRD) reported Q2 EPS of $0.99, $0.06 better than the analyst estimate of $0.93. Revenue for the quarter came in at $909 million versus the consensus estimate of $886.44 million.
"We continue to execute our transition plan for Tailored Brands and are on track to achieve our targeted $50 million of cost savings in fiscal 2016. Our store base rationalization is well underway. During the second quarter, we closed 86 stores, including 45 Jos. A. Bank factory stores and eight Men's Wearhouse outlet stores, and we remain on schedule to close approximately 250 stores during fiscal 2016," said Ewert.
"We maintain our outlook for full year adjusted EPS in the range of $1.55 to $1.85 per diluted share. Our full year guidance, reflective of a cautious retail environment, assumes slightly lower comparable sales growth at Men's Wearhouse and better comparable sales performance at Jos. A. Bank, including positive comparable sales for Jos. A. Bank in the fourth quarter.
"We remain positive on the long-term outlook for Tailored Brands and our positioning for sustainable growth and profitability. In addition to rightsizing our Jos. A. Bank business, we are advancing our initiatives to drive top-line growth and profitability, including introducing innovative product offerings such as custom clothing and strengthening our omni-channel capabilities to better serve our customers."
For earnings history and earnings-related data on Tailored Brands (TLRD) click here.