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Tailored Brands profit misses consensus by 40.0% in fiscal Q1

Tailored Brands Inc. said its normalized net income for the fiscal first quarter ended April 30 was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS declined 46.5% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $12.9 million, a decline of 46.2% from $24.0 million in the first quarter ended May 2, 2015.

The normalized profit margin dropped to 1.6% from 2.7% in the year-earlier period.

Total revenue decreased 6.4% on an annual basis to $828.8 million from $885.1 million, and total operating expenses decreased from the prior-year period to $781.7 million from $820.3 million.

Reported net income decreased 85.7% from the prior-year period to $1.5 million, or 3 cents per share, from $10.2 million, or 21 cents per share.