There’s apparently a problem selling men’s business attire. Men’s Wearhouse (MW) is down 15% after the company this evening reported Q3 sales and profitcomfortably ahead of estimates but forecast a sales decline this quarter and a deep per-share loss where analysts were expecting a profit.
Q3 revenue of $462 million was ahead of the average $454 million estimate, while profit per share of 37 cents beat by 4 cents. For the current quarter, however, the company sees sales decline “in the low single digits” versus an expected .9% decline, according to Thomson Reuters.
Men’s Wearhouse shares are now down $3.54, or 16%, at $18.30 after falling 1.5% during the regular session.
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