Men’s Wearhouse Inc (NYSE:MW) reported mixed second quarter results on Tuesday after the market close, beating earnings expectations but missing sales estimates. The company posted earnings per share of $0.98, up greatly from the $0.25 it reported for the same period of last year. Ignoring acquisition- and integration-related charges, the profit rises to $1.07 per share, just above Wall Street estimates of $1.05 per share. Net sales also registered a significant increase, to $920 million from $803 million reported a year ago. Nonetheless, sales missed estimates by quite a bit, as analysts covering the stock expected sales of $946.8 million. The market has taken the pessimistic side concerning the mixed results, as shares have slid by over 6.2% in pre-market trading this morning.
The consensus for Men’s Wearhouse Inc (NYSE:MW)’s third quarter earnings is $1.07 per share, while revenues are expected to hover around the same level as the second quarter. The company has reaffirmed its fiscal year 2015 guidance, eyeing full-year earnings of $2.70 to $2.90 per share. So far this year, the stock is up by approximately 28%, having ended yesterday’s trading session at $56.52 per share. The company has many admirers among the hedge funds that we track, with Ken Griffin‘s Citadel Investment Group among them.
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