85 774
Fashion Jobs
OLD NAVY
Assistant General Manager, Merchandising - Pheasant Run Plaza
Permanent · CHICO
OLD NAVY
Assistant General Manager, Merchandising - Merrimack Premium
Permanent · MERRIMACK
ATHLETA
Assistant General Manager - 18th & 5th
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Arizona Mills
Permanent · TEMPE
GAP
General Manager - Philadelphia Mills
Permanent · PHILADELPHIA
OLD NAVY
General Manager - Shops at Waldorf Center (New Store)
Permanent · WALDORF
OLD NAVY
Assistant General Manager, Merchandising - Triangle Square
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Northgate Mall
Permanent · CHATTANOOGA
OLD NAVY
General Manager - Coosa Town Center
Permanent · GADSDEN
OLD NAVY
General Manager - Upper Valley Plaza
Permanent · LEBANON
ATHLETA
General Manager - Issaquah Commons
Permanent · ISSAQUAH
ATHLETA
General Manager - 2nd And Pch
Permanent · LONG BEACH
BANANA REPUBLIC
Assistant General Manager - Home
Permanent · TROY
OLD NAVY
Director, CRM, Marketing
Permanent · SAN FRANCISCO
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
By
Reuters
Published
Mar 8, 2012
Reading time
2 minutes
Download
Download the article
Print
Text size

Men's Wearhouse forecasts weak 1st-qtr

By
Reuters
Published
Mar 8, 2012

Men's Wearhouse Inc's quarterly revenue missed analysts' estimates and the retailer forecast lower-than-expeced sales for the current quarter, hurt by a plunge in sales of shirts, trousers and other apparel to corporate customers.


The company expects first-quarter revenue to increase 2 to 2.5 percent, which works out to about $592 million to $594.9 million. Analysts were looking for $603.2 million, according to Thomson Reuters I/B/E/S.

Men's Wearhouse, which rents out one in every three tuxedos in the United States and Canada, said corporate apparel sales are expected to fall 15 percent to 16 percent in the quarter, as the company takes more time to introduce new products in its U.S. and UK markets for corporate customers.

The company, however, posted a narrower-than-expected loss in the fourth quarter, as lower product costs boosted margins.

Men's Wearhouse, which competes with JoS A Bank Clothiers Inc and Perry Ellis International Inc, expects a first-quarter profit of 53 cents to 54 cents a share. Analysts were looking for 62 cents a share.

Fourth-quarter loss narrowed to $3.8 million, or 7 cents a share, from $14.1 million, or 27 cents a share, a year ago.

Excluding items, it posted a loss of 5 cents a share.

Sales rose 4 percent to $562.2 million.

Analysts, on average, had expected a loss of 13 cents a share on revenue of $563.2 million, according to Thomson Reuters I/B/E/S.

Gross margins rose to 40 percent from 37.3 percent in the year-ago period.

Shares of the company, which have risen about 27 percent through 2011, closed at $40.18 on Wednesday on the New York Stock Exchange. (Reporting by Chris Jonathan Peters in Bangalore; Editing by Supriya Kurane)

© Thomson Reuters 2024 All rights reserved.