Men's Warehouse Profit Falls Short In Q1
AP--Earns-Men's Wearhouse,0128
Men's Wearhouse falls on 1Q results and 2Q outlook
HOUSTON (AP) - The Men's Wearhouse has reported disappointing fiscal first-quarter results and forecast a weak second quarter.
The Houston-based clothing chain's profit fell short of its guidance Wednesday.
Income declined 2 percent, to $26.9 million from $27.4 million. On a per-share basis its profit was unchanged at 52 cents per share. Revenue edged up 1 percent, to $586.6 million from $580.4 million.
Men's Wearhouse had said its profit would be 53 to 54 cents per share over the three months ended April 28. Analysts expected income of 55 cents per share and $593.7 million in revenue.
The company said the earlier Easter holiday helped its business, but revenue was hurt by later launch dates for customer uniforms.
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