A big rally in shares of The Men's Warehouse (MW), up 13.8% premarket, could set up peers for a bump after the company says it will explore strategic alternatives for its K&G operations. On watch: JOSB, DXLG, EXPR.
A profit warning from Jos. A Bank (JOSB) spills over to taint other men's clothing sellers. Shares of The Men's Wearhouse (MW) are down 3.5% premarket and Casual Male (DXLG) is off 1.2%. JOSB has now lopped off 17.5% premarket after the retailer's admission that customers aren't responding to recent promotions begs the question: What's left?
Specialty clothing retailer Casual Male (CMRG +3.2%) gains after reporting Q2 revenue of $100.9M (+4% Y/Y) and EPS of $0.14, beating consensus by $1.4M and $0.01. Same-store sales rose 4.9%. The company expects FY11 revenue of $405M-$410M, in-line with a $407.1M consensus, and free cash flow of $17.5M-$20M. (previously)
Destination XL Group Inc along with its subsidiaries is engaged in specialty retail of big & tall men's apparel with retail and direct operations in the United States and London, England and direct operations in Canada.