Home / Knowledge / News / Apparel/Garments / Men's Wearhouse Q1 FY'13 sales up 5.1%
Men's Wearhouse Q1 FY'13 sales up 5.1%
13
Jun '13
The Men's Wearhouse announced its consolidated financial results for the fiscal first quarter ended May 4, 2013.

FIRST QUARTER RESULTS

Net earnings for the fiscal 2013 first quarter were $33.1 million, or $0.65 diluted earnings per share, compared to net earnings of $26.9 million, or $0.52 diluted earnings per share last year.  The Company estimates that approximately $0.10 of the increase is attributable to a tuxedo prom season shift from the second quarter.  This shift is primarily caused by an earlier Easter.

Total net sales for the fiscal 2013 first quarter increased 5.1% to $616.5 million from $586.6 million for the same prior year period.  Retail segment sales for the quarter increased by 4.4% or $23.5 million and corporate apparel sales increased by 13.0% or $6.5 million as compared to the prior year quarter.

The consolidated total gross margin was up $23.9 million or 9.4% with the total gross margin rate increasing 177 basis points primarily because of the favorable penetration of tuxedo revenues.  The retail segment total gross margin was up 8.2% and the corporate apparel gross margin increased 31.6%.

SG&A expenses increased by $12.3 million or 5.8% and increased 22 basis points primarily due to higher store and non-store payroll related costs, including increased medical benefit costs, and higher advertising expense.

Because fiscal 2012 was a 53 week year, comparable store sales for the current year are shown on a trailing 52 week basis, comparing the most relevant time periods, as well as on a fiscal period basis. 

The fiscal period basis is higher than the trailing basis comparison primarily due to the favorable calendar shift for prom tuxedo rental revenues into the fiscal first quarter.  There will be an offsetting unfavorable calendar shift primarily in the second quarter resulting in a mostly neutral full year impact.

Men's Wearhouse

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search