Men's Wearhouse Provides Mid-Quarter Update
HOUSTON, April 11 /PRNewswire-FirstCall/ -- Men's Wearhouse (NYSE: MW) today provided its mid-quarter update of earnings per share guidance for the fiscal first quarter that will be ending May 5, 2007.
Neill Davis, executive vice president and CFO, stated, "After a preliminary review of the first two months' results in our fiscal first quarter, we now expect Q1 2007 GAAP diluted EPS to be at the lower end of our initial guidance range of $0.63 to $0.67, primarily due to softening U.S. sales."
On April 9, 2007, the company completed the previously announced acquisition of After Hours Formalwear from Federated Department Stores. The company's updated quarterly earnings per share estimates being provided today do not reflect the results of the After Hours Formalwear acquisition. The company will update its outlook for business results including the After Hours acquisition in conjunction with the release of its first quarter results on May 22, 2007.
CONFERENCE CALL AND WEBCAST INFORMATION
At 5:00 p.m. Eastern time on May 22, 2007, company management will host a conference call and real time web cast to review the results for the fiscal first quarter of 2007 and provide an outlook for fiscal second quarter and update for fiscal 2007.
To access the conference call, dial 303-262-2142. To access the live webcast presentation, visit the Investor Relations section of the company's website at http://www.tmw.com . A telephonic replay will be available through May 29th and by calling 303-590-3000 and entering the access code of 11088182#, or a webcast archive will be available free on the website for approximately 90 days.
Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 756 stores. The stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories, including tuxedo rentals available in the Men's Wearhouse and Moores stores.
This press release contains forward-looking information. The forward- looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be significantly impacted by various factors, including unfavorable local, regional and national economic developments, disruption in retail buying trends due to homeland security concerns, severe weather conditions, aggressive advertising or marketing activities of competitors and other factors described herein and in the company's annual report on Form 10-K for the year ended February 3, 2007.
For additional information on Men's Wearhouse, please visit the company's website at http://www.tmw.com .
CONTACT: Neill Davis, EVP & CFO, Men's Wearhouse (713) 592-7200
Ken Dennard, DRG&E (713) 529-6600
SOURCE The Men's Wearhouse, Inc.
Released April 11, 2007