- Shares of Tailored Brands (NYSE:TLRD) break higher after the retailer bests Q4 estimates by a comfortable margin and sets solid guidance.
- Tailored Brands expects comparable sales for Men's Wearhouse and Jos. A. Bank businesses to be up at a low-single-digit rate, Moores comparable sales to be flat-to-up slightly and K&G comparable sales to be flat-to-down slightly. EPS is seen falling in a range of $2.35 to $2.50 vs. $2.29 consensus.
- CEO outlook: "We believe Tailored Brands is the largest and fastest growing retailer of men's custom clothing in North America and we plan to further enhance and differentiate our custom offering in 2018. We also significantly strengthened our balance sheet, reducing debt by approximately $200 million and lowering inventories by 11%. In 2018, we plan to further reduce our debt, invest behind our growth strategies and return cash to shareholders via our dividend."
- TLRD +5.56% premarket to $24.50 vs. a 52-week trading range of $9.40 to $26.03.
- Now read: Ross Stores (NASDAQ:ROST): Great Company But Needs Some Time In The Penalty Box
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