Jason Karp Taking A Bite Out Of Texas Retailers

Moving on, shares of Men’s Wearhouse Inc (NYSE:MW) have also had a decent ride this year, up by 9.48% year-to-date, but the gains it made during the year were much more impressive before it reported its second quarter results on September 9, the same day as CONN’S. Although the company was able to beat analysts’ consensus estimate of EPS of $1.05 by reporting EPS of $1.07, it faltered on the revenue side by reporting $920.10 million in revenue for the quarter, compared to $946.78 million that analysts were expecting. In the three trading sessions subsequent to its earnings release, shares of Men’s Wearhouse have lost over 14%. On September 10, analysts from Cowen and Company reiterated their ‘Market Outperform’ rating on the stock, while lowering their price target to $53 from $57. Owing to the 23.1% rise in its stock during the second quarter, Men’s Wearhouse was one of the most popular retail stocks among the hedge funds we cover, with 33 hedge funds reporting having a stake in it at the end of June. Ricky Sandler‘s Eminence Capital was the largest shareholder of the company among those funds, owning slightly above 3.19 million shares as of June 30.

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