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9M net sales rise 14.9% at Men's Wearhouse
Dec '15
Men's Wearhouse, a specialty retailer for men's suits based in US, reported a rise of 14.9 per cent or $346.4 million in its net sales (on a GAAP basis) to $2670.6 million for the first nine months period of fiscal 2015, ending on October 31, as compared to $2324.1 million in the corresponding period of fiscal 2014, according to a press statement issued by the retailer.

Total gross margin increased by 16 per cent or $162.1 million to $1173.2 million in the first nine months of fiscal 2015 as compared to $1011.1 million in the corresponding period last fiscal. Operating income for the period increased by $1.9 million to $117 million at the retailer as compared to $115.1 million in the prior nine months period.

Net earnings for the nine months period were $31 million as compared to $35.5 million in the corresponding period last year. Diluted earnings per share were $0.64 as compared to $0.74 in the corresponding nine months period last fiscal. 

Commenting on the results, Doug Ewert, CEO of Men's Wearhouse said, “We have built a portfolio of robust and compelling brands, each renowned for their own individual identity.  Next year, we will launch a holding company called Tailored Brands.  We believe that the holding company structure will allow us to further leverage our shared services platform and support, nurture and augment our family of brands.”

“We are working hard to become an innovative and differentiated retailer in men's apparel. We look forward to sharing more with you in the near future about this and our other initiatives to create value for all our stakeholders,” he added. (MCJ)

Fibre2Fashion News Desk – India

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