US: Men’s Wearhouse Q2 profit boosted by UK
- Q2 net profit up 33% to US$57.1m
- Net sales rise 22.1% to $655.5m
- UK operations help boost sales growth
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.
Comparable store sales were up 10.9% at its Men’s Wearhouse branded division, rose 5.4% at K&G, and increased by 4.4% at Moores Canada.
Margins were also up, while the company said its UK operations – it acquired Dimensions and Alexandra in August last year – had contributed US$63.2m of the consolidated sales increase, or 11.8% of the consolidated growth rate.
For the full year, Men’s Wearhouse expects to report earnings per diluted share of $2.07-2.14.
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