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Tailored Brands lowers Q4 earnings outlook

By Prachi Singh

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Tailored Brands, Inc. has announced that retail segment comparable sales for November and December (the nine-week period ended January 5, 2019) decreased 1.4 percent, which reflects a 3.6 percent decrease at Men’s Wearhouse, a 0.1 percent increase at Jos. A. Bank, a 2.1 percent increase at K&G and a 3.5 percent increase at Moores. For the fourth quarter, the company now expects comparable sales at Jos. A. Bank to be flat compared to previous guidance of up low-single-digits. The company continues to expect comparable sales at Men’s Wearhouse to be down low-single-digits, Moores to be up low-single-digits and K&G to be flat-to-up slightly.

“Comparable sales at Jos. A. Bank were strong in November and early December but weakened during the third and fourth weeks of December, reflecting a deceleration in traffic. As a result, we now expect fourth quarter comparable sales at Jos. A. Bank to be flat instead of up low-single-digits,” said Tailored Brands Executive Chairman Dinesh Lathi in a statement.

The company now expects to report fourth quarter adjusted diluted loss per share in the range of 29 cents to 34 cents, compared to prior guidance of adjusted diluted loss per share in the range of 24 cents to 29 cents. Full year fiscal adjusted earnings per diluted share are now expected to in the range of 2.25 dollars to 2.30 dollars, compared to prior guidance of adjusted earnings per diluted share in the range of 2.30 dollars to 2.35 dollars.

Picture:Men's Wearhouse blog

Jos A Bank
Men's Wearhouse
Tailored Brands