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Tailored Brands fiscal Q3 profit falls 10.5% YOY

Tailored Brands Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 76 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS fell 11.2% year over year from 86 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.8 million, a decline of 10.5% from $41.2 million in the prior-year period.

The normalized profit margin declined to 4.1% from 6.3% in the year-earlier period.

Total revenue increased 37.3% on an annual basis to $890.6 million from $648.9 million, and total operating expenses increased 38.7% from the prior-year period to $806.4 million from $581.4 million.

Reported net income fell 82.1% year over year to $6.8 million, or 14 cents per share, from $37.8 million, or 79 cents per share.