The Men’s Wearhouse Inc. late Monday reported lower first-quarter earnings that came in well in excess of analysts’ estimates and used the opportunity to show off improvements in its balance sheet as the retailer gets closer to a takeover of bankrupt Filene’s Basement.
During the three months ended May 2, the Houston-based men’s wear specialty chain logged net income of $5.3 million, or 10 cents a diluted share, 47.1 percent below the $9.9 million, or 19 cents, reported for the year-ago quarter. But the bottom-line results were well in excess of analysts’ estimates of a 1-cent loss and the company’s guidance, provided in March, of a breakeven performance to a loss in the midsingle digits.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"