Men's Wearhouse Inc.'s (MW) fiscal fourth-quarter loss narrowed, in line with company expectations, as the apparel seller reported higher sales.
The company also forecast current-quarter earnings of 27 cents to 30 cents a share and full-year earnings of $1.75 to $1.85. Analysts surveyed by Thomson Reuters expect 29 cents and $1.72, respectively.
Shares rose 4.1% to $27.25 after hours. As of the close, the stock had risen 5.8% the past year.
The retailer, which operates apparel stores for men in the U.S. and Canada under the Men's Wearhouse, Moores and K&G brands, has posted improved sales in recent quarters. Men's Wearhouse has noted improved traffic trends and growth in driving new customers to stores.
For the quarter ended Jan. 29, Men's Wearhouse reported a loss of $14.1 million, or 27 cents a share, narrowing from a loss of $18.8 million, or 36 cents, a year earlier. Excluding items such as integration expenses and tuxedo-distribution closure costs, the loss was 19 cents, compared with 11 cents. Revenue jumped 19% to $542.1 million.
The company had predicted a fourth-quarter loss, excluding acquisition and other costs, of 19 cents to 22 cents a share, with total sales rising by a high-teens to low-20s percentage.
Gross margin rose to 37.3% from 37.1%.
The company also forecast current-quarter earnings of 27 cents to 30 cents a share and full-year earnings of $1.75 to $1.85. Analysts surveyed by Thomson Reuters expect 29 cents and $1.72, respectively.
Shares rose 4.1% to $27.25 after hours. As of the close, the stock had risen 5.8% the past year.
The retailer, which operates apparel stores for men in the U.S. and Canada under the Men's Wearhouse, Moores and K&G brands, has posted improved sales in recent quarters. Men's Wearhouse has noted improved traffic trends and growth in driving new customers to stores.
For the quarter ended Jan. 29, Men's Wearhouse reported a loss of $14.1 million, or 27 cents a share, narrowing from a loss of $18.8 million, or 36 cents, a year earlier. Excluding items such as integration expenses and tuxedo-distribution closure costs, the loss was 19 cents, compared with 11 cents. Revenue jumped 19% to $542.1 million.
The company had predicted a fourth-quarter loss, excluding acquisition and other costs, of 19 cents to 22 cents a share, with total sales rising by a high-teens to low-20s percentage.
Gross margin rose to 37.3% from 37.1%.
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