US: Men’s Wearhouse in Q1 profit surge
- Q1 profit more than doubles to US$27.4m
- Revenues up 23% to $580.4m
- Raises full-year earnings outlook
Retailer Men’s Wearhouse recorded a sharp increase in first quarter profits as same store sales rose at each of the company’s brands.
The US company said the period ending 30 April was marked by increased units per transaction at its stores, higher average spend and increased rates of customer traffic at its K&G and Moores outlets.
The results beat the company’s own expectations, causing it to raise its full-year forecast for earnings per share to $2.04-2.12, compared to a projection of $1.75-1.85 in March.
Apparel retailer Men's Wearhouse posted a robust increase to second quarter profit, buoyed by increased sales across its business, including its recently acquired UK operations....
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