Home / Knowledge / News / Apparel/Garments / Men's Wearhouse FY'13 net sales dip marginally
Men's Wearhouse FY'13 net sales dip marginally
12
Mar '14
The Men's Wearhouse announced consolidated financial results for the fiscal year ended February 1, 2014. 
 
Fiscal year 2013 had 52 weeks compared with 53 weeks in fiscal year 2012.  Consequently, results for the fourth quarter and fiscal year 2013 were negatively impacted by the additional week in 2012. Comparable sales for the fourth quarter and fiscal year 2013 do not include an additional week in fiscal year 2012.
 
Total net sales for fiscal year 2013 decreased 0.6% to $2.5 billion, and total Men's Wearhouse brand revenues were up 1.6% over fiscal 2012 and up 3% on a 52 week fiscal comparison. GAAP diluted EPS for fiscal year 2013 was $1.70 and adjusted EPS was $2.21 excluding one-time costs. 
 
Total net sales for the fiscal 2013 13-week fourth quarter decreased 7.9% to $560.6 million from $608.4 million in last year's 14-week fourth quarter.  GAAP loss per share was $0.64 for the fourth quarter of 2013.  Adjusted loss per share was $0.38 excluding one-time costs. 
 
Doug Ewert, Men's Wearhouse president and chief executive officer, commented, "We were not immune to the effects of weak consumer spending sentiments and severe weather disruption that impacted most retailers in December and January.  Tuxedo and corporate apparel sales were in-line with internal expectations, while clothing sales in all three retail chains were lower than expected.  
 
Weather-related store closures and an aggressive promotional retail environment resulted in a traffic decline. We estimate that approximately one-quarter of the 2.5% comparable sales decrease in the fourth quarter at Men's Wearhouse was due to these closures."
 
Ewert added, "We executed an aggressive advertising and promotional plan, and made adjustments as the challenging retail environment unfolded during the quarter.  We proactively increased our promotional activity, including incremental advertising spending, and reduced our expenses accordingly. 
 
Subsequently, we have seen business improve significantly in February, as both Men's Wearhouse and Moores finished the month with approximately 3% and 9% comparable sales increases respectively, overcoming additional weather-related store closures.  
 
Click here to view full results.
 

Men's Wearhouse


Must ReadView All

Apparel/Garments | On 2nd May 2016

WB: B’desh can create more jobs with apparel exports

Clothing exports could create more and better jobs in Bangladesh if...

Courtesy: Skechers USA Inc

Apparel/Garments | On 2nd May 2016

Govt okays single brand retail for Skechers

Footwear maker Skechers USA Inc. has secured the government's...

Apparel/Garments | On 2nd May 2016

Amazon to invest more in India

Global e-commerce major Amazon plans to boost investment in its...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Serkan Gogus
Mogul Tekstil, Ltd.

Can you give a brief account of the market for different types of...

Christina Dean
Redress

How do you see the market for sustainable fashion in the near future? Has...

Mr David Rousse
Association of Nonwoven Fabric Industry (INDA)

David Rousse is the new President of the Association of Nonwoven Fabric...

Daniel Dwight
Cooley Group

An international executive with significant experience leading high-tech...

Dr MP Agarwal
Shri Lakshmi Cotsyn Ltd

Dr MP Agarwal is the Chairman & Managing Director of Shri Lakshmi Cotysn...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search