Men's Wearhouse Shares Jump 20 Percent on Stellar 3Q Results
Men's Wearhouse issued its third-quarter results after the closing bell Tuesday, easily topping analysts' expectations for revenue and earnings. In the three months ended October 31st, the clothier reported per share earnings of 77 cents, with adjusted income coming in at 79 cents per share. Overall revenue, meanwhile, surged 6 percent from the same period of 2010 to $584.6 million. Taking part in a recent FactSet survey, analysts projected the company would post earnings of 65 cents per share on revenue of $571.4 million.
In addition to the stellar results, Houston-based Men's Wearhouse also raised its guidance for full-year earnings from a previous forecast calling for earnings of $2.13 to $2.20 a share, and is now expecting per share earnings in the $2.28 to $2.31 range, also easily ahead of analysts' prediction of a forecast calling for $2.19 per share in earnings. Shares of the company surged almost 20 percent on Wednesday after the report.
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