Men's Wearhouse parent Tailored Brands shares surge after earnings and sales beat, guidance raised

Tailored Brands Inc. shares jumped 11.3% in Thursday trading after the men's clothing retailer reported third-quarter earnings and sales beat estimates. Tailored Brands' portfolio includes Men's Wearhouse, Jos. A. Bank and K&G. Net income for the quarter totaled $36.9 million, or 75 cents per share, up from $28.4 million, or 58 cents per share last year. Sales totaled $810.8 million, down from $846.9 million last year. The FactSet consensus was for EPS of 56 cents and sales of $808.0 million. Retail segment same-store sales were up 0.1%, posting the second consecutive quarter of positive same-store sales, according to a statement from Chief Executive Doug Ewert. Same-store sales rose 4.9% at Jos. A. Bank, but fell at the company's other retail chains. Tailored Brands expects full-year EPS in the range of $1.80 to $1.85 and adjusted EPS of $2.03 to $2.08. The previous guidance was for EPS of $1.42 to $1.62 and adjusted EPS of $1.65 to $1.85. The company expects full-year same-store sales for Men's Wearhouse, K&G and Moore's to be down low-single digits while Jos. A. Banks same-store sales are expected to be up mid-single digits. Tailored Brands shares are down 24.5% for the year so far, but up 1.9% for the last 12 months. The S&P 500 index is up 17.7% for the last 12 months.

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