By  on March 9, 2017
Men's Wearhouse

The men’s wear industry is not immune to the malaise that has hit the retail sector hard over the past year.Late Wednesday, Tailored Brands Inc., the former Men’s Wearhouse, reported sales declines for fiscal 2016 and warned of another tough year in 2017 — a disclosure that led to a steep drop in the stock price when the market opened Thursday morning. In mid-morning trading, shares on the New York Stock Exchange were trading down more than 30 percent, falling to just over $16.Douglas Ewert, chief executive officer, said the retailer is projecting earnings per share in the range of $1.45 to $1.75 on comparable-store sales declines in the low-single digits at Men’s Wearhouse and comp increases in the mid-single digits at its Jos. A. Bank division. Analysts were expecting profits this year to be considerably higher at $2.10 a share.

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