Why Did Tailored Brands Shares Rise by 22% in September?
In a challenging market for retailers, Tailored Brands (NYSE: TLRD) had a strong second quarter with earnings that were more than double where they came in for the year-ago period. The company, which owns Men's Warehouse, Jos, A Bank, K&G, and other clothing chains, also retired $42.6 million in debt, taking its total to $50 million in debt paid off year-to-date.
Tailored Brands reported second-quarter earnings per share (EPS) of $1.19, up from $0.51 in Q2 2016. The company gained $0.05 per share due to having lower debt payments. The company posted those gains by managing expenses given that it posted only a slight 0.1% comparable-store sales increase across all its brands.
"We were pleased that all brands posted sequential improvement in comparable sales on a one- and two-year stacked basis during the second quarter, which resulted in positive comparable sales for our retail segment as a whole," said CEO Doug Ewert in the Q2 earnings release. "That said, the retail environment remains challenging and therefore we have a cautious outlook for the second half of the year."
Source: Fool.com
