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Tailored Brands fiscal Q4 loss widens 67.8% YOY

Tailored Brands Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to a loss of 71 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss widened 65.6% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $33.9 million, compared with a loss of $20.2 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin declined to negative 3.6% from negative 3.6% in the year-earlier period.

Total revenue increased 65.6% on an annual basis to $928.4 million from $560.6 million, and total operating expenses grew 61.7% on an annual basis to $956.1 million from $591.5 million.

Reported net income totaled a loss of $36.1 million, or a loss of 75 cents per share, compared to a loss of $30.0 million, or a loss of 64 cents per share, in the fourth quarter ended Feb. 1, 2014.

For the year, the company's normalized net income totaled $1.78 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.51.

EPS declined 15.3% from $2.10 in the prior year.

Normalized net income was $85.1 million, a decline of 17.5% from $103.2 million in the prior year.

Full-year total revenue increased 31.5% on an annual basis to $3.25 billion from $2.47 billion, and total operating expenses rose 32.3% on an annual basis to $3.05 billion from $2.30 billion.

The company said reported net income came to a loss of $478,990, or a loss of 1 cents per share, in the full year, compared with income of $83.6 million, or $1.70 per share, the prior year.