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By David Gibbs

Earnings: Q1 profits of $0.26 vs. estimates of $0.14. [see call transcript]

Revenue: Up 2% to $473.5 million vs. estimates of $458 million.

Chief Operating Officer Doug Ewert told investors the performance of the company’s retail apparel business represented a “significant improvement” YOY.

Chief Executive George Zimmer added that rumors of a women’s wear store, nicknamed “Women’s Wearhouse” by the Street, are false, calling such rumors “inaccurate.”

Comment: Women’s Wearhouse or not, this was a very impressive Q out of MW. Total foot trafic was up 5.3% YOY, same store sales grew 2.4% compared to a 7% YOY loss last year, and gross margin widened to 42.5% from 40.5%.

Put this all together, and you’ve got yourself a discount retailer of formal-wear that’s got some serious legs after-hours. Currently, shares are changing hands at $19.90, good for a gain of 5.5%. This could be a good name to consider if you’re in it for the long term, but as far as a trade is concerned, the market’s downward bias is likely to stunt any growth in the near-term.

Disclosure: No holdings in MW.

Source: Men's Wearhouse: You’re Gonna Like The Way It Looks