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Tailored Brands profit misses consensus by 47.2% in fiscal Q1

Tailored Brands Inc. said its normalized net income for the fiscal first quarter ended May 3 came to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 66 cents per share.

EPS decreased 46.5% year over year from 65 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.6 million, a decrease of 49.5% from $32.8 million in the year-earlier period.

The normalized profit margin dropped to 5.2% from 5.3% in the year-earlier period.

Total revenue grew on an annual basis to $630.5 million from $616.5 million, and total operating expenses grew 6.9% on an annual basis to $602.9 million from $564.0 million.

Reported net income fell 50.6% year over year to $16.3 million, or 34 cents per share, from $33.0 million, or 65 cents per share.