Exhibit 99.1

 

News Release

 

Contact:

 

Jon Kimmins, CFO

 

(510) 723-8639

For Immediate Release

 

 

Ken Dennard

 

Dennard · Lascar Associates

 

(832) 594-4004

 

ken@dennardlascar.com

 

MEN’S WEARHOUSE REPORTS FISCAL 2013 RESULTS

 

·                  Fiscal 2013 GAAP diluted earnings per share were $1.70 and adjusted diluted earnings per share were $2.21

 

·                  Fourth quarter comps for Men’s Wearhouse brand were down 2.5% with approximately one-quarter of the decrease due to weather-related store closures

 

·                  Positive 2014 first quarter trends with February comparable sales up 3% at Men’s Wearhouse and 9% at Moores

 

FREMONT, CA — March 11, 2014 — The Men’s Wearhouse (NYSE: MW) today announced consolidated financial results for the fiscal year ended February 1, 2014.

 

Fiscal year 2013 had 52 weeks compared with 53 weeks in fiscal year 2012.  Consequently, results for the fourth quarter and fiscal year 2013 were negatively impacted by the additional week in 2012.  Comparable sales for the fourth quarter and fiscal year 2013 do not include an additional week in fiscal year 2012.

 

Total net sales for fiscal year 2013 decreased 0.6% to $2.5 billion, and total Men’s Wearhouse brand revenues were up 1.6% over fiscal 2012 and up 3% on a 52 week fiscal comparison.  GAAP diluted EPS for fiscal year 2013 was $1.70 and adjusted EPS was $2.21 excluding one-time costs(1).

 

Total net sales for the fiscal 2013 13-week fourth quarter decreased 7.9% to $560.6 million from $608.4 million in last year’s 14-week fourth quarter.  GAAP loss per share was $0.64 for the fourth quarter of 2013.  Adjusted loss per share was $0.38 excluding one-time costs(2).

 

Doug Ewert, Men’s Wearhouse president and chief executive officer, commented, “We were not immune to the effects of weak consumer spending sentiments and severe weather disruption that impacted most retailers in December and January.  Tuxedo and corporate apparel sales were in-line with internal expectations, while clothing sales in all three retail chains were lower than expected.  Weather-related store closures and an aggressive promotional retail environment resulted in a traffic decline. We estimate that approximately one-quarter of the 2.5% comparable sales decrease in the fourth quarter at Men’s Wearhouse was due to these closures.”

 


The following information was filed by Tailored Brands Inc (TLRD) on Tuesday, March 11, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Tailored Brands Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tailored Brands Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Log in with your credentials

or    

Forgot your details?

Create Account