Tailored Brands reports Q2 adjusted EPS 82c, consensus 74c
Reports Q2 revenue $789.5M, consensus $789.19M. Retail net sales decreased 4.1% primarily due to a decrease in retail segment comparable sales of 3.6%. Corporate apparel net sales decreased 3.9%, or $2.2M, primarily due to the impact of a weaker British pound this year compared to last year. Men's Wearhouse comparable sales decreased 4.3%. Jos. A. Bank comparable sales decreased 3.3%. K&G comparable sales decreased 1.3%. Moores comparable sales decreased 2.5%. "We were pleased to deliver second quarter comparable sales in line with our guidance and adjusted earnings per share above our guidance. We are also seeing early customer response to our initiatives, which gives us confidence that unleashing the potential for this business to generate healthy positive comps lies in our transformational strategies of providing i) personalized products and services, ii) inspiring and seamless experiences in and across every channel, and iii) brands that stand for more than just price," said Tailored Brands President and CEO Dinesh Lathi.