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Tailored Brands fiscal Q2 profit falls YOY

Tailored Brands Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 came to $1.01 per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.

EPS increased year over year from 98 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $48.8 million, compared with $49.2 million in the prior-year period.

The normalized profit margin fell to 6.1% from 7.6% in the year-earlier period.

Total revenue grew 24.1% on an annual basis to $803.1 million from $647.3 million, and total operating expenses rose 25.3% from the prior-year period to $711.7 million from $568.1 million.

Reported net income declined 71.8% year over year to $12.0 million, or 25 cents per share, from $42.6 million, or 85 cents per share.