Texas-based specialty apparel retailer Tailored Brands Inc. on Dec. 6 lifted its full-year fiscal 2017 outlook, with adjusted diluted earnings per share now expected to range between $2.03 and 2.08 from a prior guidance of $1.65 to $1.85.
The company said it expects The Men's Wearhouse and Moores' comparable sales for fiscal 2017 to be down low-single digits, and for JoS. A. Bank Clothiers Inc.'s comparable sales to increase mid-single digits. Tailored Brands said it is keeping its previous outlook for capital expenditures in 2017 at about $90 million.
The retailer reported its results for third-quarter fiscal 2017 ended Oct. 23 in the same release, posting adjusted diluted EPS of 75 cents from the same year-ago period's 71 cents and beating an S&P Capital IQ mean consensus estimate of 54 cents. Adjusted net income for the three-month period also grew to $36.9 million, compared to last year's $34.6 million. However, net sales dropped 4.3% to $810.8 million from $846.9 million a year ago, which the company attributed to the impact of last year's store closures.