NEW YORK – Men’s Wearhouse Wednesday nudged up its expectations for second quarter earnings based on strength at its Men’s Wearhouse stores.
The company on May 22 had estimated quarterly earnings of $0.88 to $0.92 a diluted share but said Wednesday that it now expects to “meet or exceed the higher end of our initial guidance range,” according to Neill Davis, executive vice president and chief financial officer of the Houston-based men’s specialty retailer. He said the elevated estimate was “primarily due to stronger retail apparel sales at the company’s traditional Men’s Wearhouse stores.”
In May, MW projected that After Hours, the tuxedo rental chain acquired from Federated Department Stores, would add $0.15 to $0.17 in EPS during the second quarter, with a revenue contribution of between $80 million and $85 million.
Men’s Wearhouse is expected to release its second quarter results on Aug. 22, at which time it will also provide initial guidance for the third quarter as well as an update for the full year.
As of May 5, MW operated 1267 units, including 544 under its corporate name, 509 After Hours, 116 Moores stores in Canada and 98 K&G units.