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Men's Wearhouse reports fiscal 2008 Q2 results
28 Aug '08
4 min read
Excluding the estimated Golden Brand closure costs for the third quarter of $0.02 per diluted share outstanding, the Company expects adjusted diluted earnings per share to be $0.36 to $0.40. Including these costs, GAAP diluted earnings per share are expected to be $0.34 to $0.38.
This guidance assumes same store sales at MW, including MW Tux stores, to decrease in the high single digit range, at K&G to decrease in the mid single digit range and at Moores to decrease in the low single digit range.
The guidance includes an estimated effective tax rate of approximately 38.5% for the third quarter. The fully diluted shares outstanding are estimated to be 51.9 million.
FISCAL 2008 GUIDANCE:
The Company is updating its adjusted diluted earnings per share outlook for the year to a range of $1.50 to $1.60 excluding the estimated Golden Brand closure costs of $0.12 per diluted share outstanding.
Including these costs, GAAP diluted earnings per share are expected to be $1.38 to $1.48. This annual guidance reflects a comparable store sales decrease in the mid single digits for TMW, a high single digit decrease at K&G, and a low single digit decrease for Moores.
This guidance assumes same store sales at MW, including MW Tux stores, to decrease in the high single digit range, at K&G to decrease in the mid single digit range and at Moores to decrease in the low single digit range.
The guidance includes an estimated effective tax rate of approximately 38.5% for the third quarter. The fully diluted shares outstanding are estimated to be 51.9 million.
FISCAL 2008 GUIDANCE:
The Company is updating its adjusted diluted earnings per share outlook for the year to a range of $1.50 to $1.60 excluding the estimated Golden Brand closure costs of $0.12 per diluted share outstanding.
Including these costs, GAAP diluted earnings per share are expected to be $1.38 to $1.48. This annual guidance reflects a comparable store sales decrease in the mid single digits for TMW, a high single digit decrease at K&G, and a low single digit decrease for Moores.
Men's Wearhouse
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