Corporate apparel segment net sales up at Men's Wearhouse
09 Jun '11
4 min read
The Company had no borrowings under its bank credit facility at the end of first quarter fiscal 2011.
During the quarter, the Company repurchased 1.8 million shares for a total of $49.0 million.
2011 Guidance
For the fiscal year, GAAP diluted earnings per share is expected to be in a range of $2.00 to $2.08. Adjusted diluted earnings per share are expected to be in a range of $2.04 to $2.12. Adjusted earnings per share exclude acquisition integration expenses of $3.5 million ($2.2 million after tax or $0.04 per diluted share outstanding).
For the second quarter of the fiscal year, GAAP diluted earnings per share is expected to be in a range of $1.01 to $1.04. Adjusted diluted earnings per share are expected to be in a range of $1.02 to $1.05. Adjusted earnings per share exclude acquisition integration expenses of $0.9 million ($0.6 million after tax or $0.01 per diluted share outstanding).
The financial results of the combined UK acquisitions, excluding acquisition integration expenses, are expected to be accretive to the Company's full year and second quarter diluted earnings per share.
Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,187 stores. The Men's Wearhouse, Moores and K&G stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories and Men's Wearhouse and Tux stores carry a limited selection. Tuxedo rentals are available in the Men's Wearhouse, Moores and Men's Wearhouse and Tux stores.
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