Men's Wearhouse Q4 Results Top Estimates

(RTTNews) - Men's Wearhouse, Inc. (MW) reported a net loss for the fourth quarter of $35.9 million or $0.75 per share, compared to net loss of $30.4 million or $0.64 per share for the year-ago quarter.

Excluding items, adjusted net loss for the fourth quarter was $1.3 million or $0.03 per share, compared to an adjusted net loss of $17.9 million or $0.38 per share in the prior year quarter.

Total net sales for the fourth quarter rose 65.6%, to $928.36 million from $560.55 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.07 per share on revenue of $919.09 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts fiscal year 2015 adjusted earnings of $2.70 to $2.90 per share. The company expects Jos. A. Bank comparable sales to continue to be down throughout the first half of the year with improvement in the second half and gross margin to increase for the year but follow a similar pattern to sales.

Analysts currently expect the company to earn $2.52 per share for the fiscal year 2015.

The company raised its 2017 guidance to include K&G operations and now expects adjusted earnings to be in the range of $5.75 to $6.25 per share.