Men’s Wearhouse posts higher income and sales in fiscal 1st quarter, topping analyst views

Men’s Wearhouse 1st-quarter results beat Street

HOUSTON — Men’s Wearhouse Inc. reported late Wednesday that improved margins and sales in its fiscal first quarter helped boost income above analyst expectations.

The Houston-based apparel retailer earned $13.6 million, or 26 cents per share, in the quarter ended May 1. That compares with income of $5.3 million, or 10 cents per share, in the same quarter of the prior year.

Revenue grew 2 percent to $473.5 million.

Analysts polled by Thomson Reuters anticipated income of 14 cents per share on revenue of $458 million.

Revenue at U.S. stores open at least a year increased 0.2 percent, the retailer said. Revenue at stores open at least a year is considered an important retail performance indicator because it measures growth at existing stores rather than newly opened ones.

Men’s Wearhouse said it expects income of 75 cents to 78 cents per share in its fiscal second quarter. Analysts, on average, predict income of 78 cents per share excluding items.

The retailer also predicted revenue at its namesake stores open at least a year would grow by a percentage in the low single digits in the second quarter.

Shares of Men’s Wearhouse rose 99 cents, or 5.3 percent, to $19.66 in aftermarket activity. They earlier dipped 15 cents to end regular trading at $18.67. The stock has traded in a 52-week range of $16.51 to $27.67.