Interviews
News Flash
Men's Wearhouse gross margin slides to 42.77%
13 Mar '08
4 min read
The company estimates the pre tax cost to close the facility to be approximately $8.5 million or the equivalent of $0.10 per diluted share outstanding for the fiscal year.
The estimated pre tax cost for first quarter is $5.5 million or the equivalent of $0.06 per diluted share outstanding, for second quarter is $1.3 million or the equivalent of $0.02 per diluted share outstanding and for third quarter is $1.7 million or the equivalent of $0.02 per diluted share outstanding.
For the fiscal year, the Company expects adjusted diluted earnings per share to be $1.90 to $2.10 excluding the Golden Brand closure costs.
Including these costs, diluted earnings per share are expected to be $1.80 to $2.00. This guidance assumes same store sales in the U.S. to decrease in the mid single digit range and in Canada to be flat.
For the first quarter, the Company expects adjusted diluted earnings per share to be $0.20 to $0.24 excluding the Golden Brand closure costs. Including these costs, diluted earnings per share are expected to be $0.14 to $0.18.
This guidance assumes same store sales in the U.S. to decrease in the high single digit range and in Canada to decrease in the low single digit range.
MW Tux (formerly After Hours) was acquired at the beginning of April 2007. Thus February and March, which are considered off season, were not included in first quarter fiscal 2007 results. The February and March diluted earnings per share impact on first quarter is estimated to be dilutive by $0.22.
For the second quarter, the Company expects adjusted diluted earnings per share to be $0.80 to $0.86 excluding the Golden Brand closure costs. Including these costs, diluted earnings per share are expected to be $0.78 to $0.84.
This guidance assumes same store sales in the U.S, including MW Tux (formerly After Hours) stores, to decrease in the mid to high single digit range and in Canada to increase in the low single digit range.
The guidance includes an estimated effective tax rate of approximately 38.3% for the first and second quarters and approximately 37.9% for the full year. The fully diluted shares outstanding are estimated to be 52.1 million.
The estimated pre tax cost for first quarter is $5.5 million or the equivalent of $0.06 per diluted share outstanding, for second quarter is $1.3 million or the equivalent of $0.02 per diluted share outstanding and for third quarter is $1.7 million or the equivalent of $0.02 per diluted share outstanding.
For the fiscal year, the Company expects adjusted diluted earnings per share to be $1.90 to $2.10 excluding the Golden Brand closure costs.
Including these costs, diluted earnings per share are expected to be $1.80 to $2.00. This guidance assumes same store sales in the U.S. to decrease in the mid single digit range and in Canada to be flat.
For the first quarter, the Company expects adjusted diluted earnings per share to be $0.20 to $0.24 excluding the Golden Brand closure costs. Including these costs, diluted earnings per share are expected to be $0.14 to $0.18.
This guidance assumes same store sales in the U.S. to decrease in the high single digit range and in Canada to decrease in the low single digit range.
MW Tux (formerly After Hours) was acquired at the beginning of April 2007. Thus February and March, which are considered off season, were not included in first quarter fiscal 2007 results. The February and March diluted earnings per share impact on first quarter is estimated to be dilutive by $0.22.
For the second quarter, the Company expects adjusted diluted earnings per share to be $0.80 to $0.86 excluding the Golden Brand closure costs. Including these costs, diluted earnings per share are expected to be $0.78 to $0.84.
This guidance assumes same store sales in the U.S, including MW Tux (formerly After Hours) stores, to decrease in the mid to high single digit range and in Canada to increase in the low single digit range.
The guidance includes an estimated effective tax rate of approximately 38.3% for the first and second quarters and approximately 37.9% for the full year. The fully diluted shares outstanding are estimated to be 52.1 million.
Men's Wearhouse
Popular News
Leave your Comments
Editor’s Pick
Yohan Lawrence
Joint Apparel Association Forum (JAAFSL)
Ata Turgutalp
Eliar Elektronik San. A.S.
Daniela Brunner
Label - Guilia & Romeo
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
