Shares of Tailored Brands Inc. dropped 19.9 percent after the company reported first-quarter results, even though it managed to beat Wall Street’s consensus estimates.
For the three months ended May 5, the parent company of Men’s Wearhouse and Jos. A. Bank said it had net income of $13.9 million, or 27 cents a diluted share, from net income of $1.8 million, or 4 cents, a year ago. Diluted earnings per share were 50 cents for the quarter on an adjusted basis. Net sales totaled $818 million, a 4.5 percent increase from $782.9 million a year ago. Excluding income from rental and alteration services, as well as its corporate apparel business, retail sales were up 5.2 percent to $613.6 million from $583.6 million. Comparable-store sales rose 2.1 percent. And the company said its corporate apparel net sales rose 9.6 percent, or $5.5 million mostly due to the impact of a stronger British pound this year. By brand segment, Men’s Wearhouse comps rose 3.2 percent, while comps at Jos. A. Ban rose 1.2 percent. Comps at Moores were up 1.8 percent, but were down 1.7 percent at K&G.
Ganni turned over a new leaf for spring 2019, reports @fionawsma from Copenhagen Fashion Week. Instead of sending its signature floral-print dresses down the runway, the brand collaborated with 66 North, a technical outerwear brand, and produced a chic-yet-utilitarian offering that included a tie-dye vest and short set, and leopard-print pieces sprinkled among the khaki parkas and bucket hats. #wwdfashion #ganni #copenhagenfashionweek
“I love ‘Kudos’ by Rachel Cusk that just came out,” said @katieholmes212 of what’s on her summer reading list. Head to WWD.com to read which books @lilireinhart, @dakotafanning and more are picking up this summer. #wwdeye (📷: @kukukuba)
“I’ve been an actress since I was like 10 or 12, and then I went to drama school. I have a technique, and I have a process that I bring to every role. And I can talk about it, but that kind of makes it less magic, and also when I talk about it, it makes me feel like I’m full of myself,” ‘Crazy Rich Asians Star’ Constance Wu tells @leighen .(📸: @emmanmontalvan: styled by @micaelaerlanger ) #wwdeye #crazyrichasians #constancewu