News Flash

Men's Wearhouse Q1 income rises – plans to repurchase $50mn shares

19 May '05

3 min read

The Company is now planning to be out of five of its six Eddie Rodriguez stores by the end of the second quarter of this year, well ahead of previous expectations. Estimated net operating losses from the Company's Eddie Rodriguez stores for fiscal 2005 are now expected to be $0.12 to $0.15 diluted earnings per share compared to the 2004 net operating losses of $0.08 diluted earnings per share.

Additionally, the Company granted restricted stock to employees in May, of which the expense will total $0.04 during the remainder of fiscal 2005.

For the full year, the Company now anticipates diluted earnings per share, including Eddie Rodriguez results, to be in the range of $2.40 to $2.53. Excluding the Eddie Rodriguez results and including the restricted stock grant expense, the Company now expects adjusted diluted earnings per share to be in a range of $2.55 to $2.65. This guidance assumes mid single digit same store sales growth in both the U.S. and Canada.

For the second quarter, the Company expects adjusted diluted earnings per share, excluding the Eddie Rodriguez results, to be in a range of $0.63 to $0.66 based on high single digit same store sales increase in the U.S. for May followed by mid single digit increases in June and July. Including Eddie Rodriguez, the Company expects adjusted diluted earnings per share to be in a range of $0.57 to $0.62.

Founded in 1973, Men's Wearhouse is one of North America's largest specialty reta1971973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 710 stores. The stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories, including tuxedo rentals available in the Men's Wearhouse and Moores stores.

Men's Wearhouse

More Men's Wearhouse News... More Apparel/Garments News - United States Of America...