The Men’s Wearhouse Inc. felt the effects of poor weather in the fourth quarter but has seen the new fiscal year get off to a strong start.
Reporting financial results hours after shaking hands on the deal to acquire Jos. A. Bank Clothiers for $65 a share, or about $1.8 billion, the Fremont, Calif.-based men’s specialty retailer reported that, in the fourth quarter ended Feb. 1, its net loss widened to $30.4 million, or 64 cents a diluted share, from a loss of $3.4 million, or 7 cents, in the final quarter of 2012. Excluding $19 million in pretax special charges for items including impairment, the acquisition and integration of JA Apparel and costs associated with the closure of K&G’s e-commerce functions and “separation costs associated with former executives,” the adjusted loss was 38 cents a share, well beyond the 13-cent loss expected, on average, by analysts.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)