Tailored Brands plummets after Q4 profit warning

|About: Tailored Brands, Inc (TLRD)|By:, SA News Editor

Tailored Brands (NYSE:TLRD) sinks after missing Q3 estimates and setting full-year guidance below expectations.

Same-store sales by brand: Men's Wearhouse +1.7%, Jos A. Bank +3.8%, K&G +4%, Moore's Canada +1.2%.

Gross margin rose 40 bps Y/Y to 44.6% on some leveraging of occupancy costs.

Operating income was up 12% to $86M during the quarter to rep 10.6% of total sales.

Looking ahead, the company expects FY19 EPS of $2.30 to $2.35 vs. $2.35 consensus after dropping its profit view for Q4. "We saw a softening of comparable sales due to lower transactions at Men’s Wearhouse and that trend continued into November. As a result, we have taken a more cautious outlook on fourth quarter comparable sales for Men’s Wearhouse," notes TLRD management.

Shares of Tailored Brands are down 24.86% in AH trading to $15.14.

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