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Tailored Brands fiscal Q1 profit falls 27.3% YOY

Tailored Brands Inc. said its normalized net income for the fiscal first quarter ended May 2 came to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS declined 28.0% year over year from 69 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.0 million, a decline of 27.3% from $33.0 million in the year-earlier period.

The normalized profit margin fell to 2.7% from 5.2% in the year-earlier period.

Total revenue rose 40.4% year over year to $885.1 million from $630.5 million, and total operating expenses rose 42.2% on an annual basis to $820.3 million from $576.7 million.

Reported net income fell 37.6% from the prior-year period to $10.2 million, or 21 cents per share, from $16.3 million, or 34 cents per share.