Men’s Wearhouse board rejected a $2.4 takeover bid from smaller rival Jos. A. Bank Clothiers on Wednesday, marking it as the second occasion when the company has turned down the idea of selling the clothing chain. Earlier in June, Men’s Wearhouse board fired its founder and biggest shareholder, George Zimmer, blaming him that he was forcing the board to make the company private. The offer of $48 a share implied a premium of 42% over Men’s Wearhouse closing stock price on Sept. 17, a day before when Jos. A. Bank privately pitched the offer to Men’s Wearhouse executives over a phone call.
Tag: MW
Major Movers on June 13; MW, PVH, SWY, GCI, BBRY, PCO
Shares of The Men’s Wearhouse Inc. (NYSE: MW) climbed 3.65% by afternoon trade. The Company said on Wednesday that fiscal first quarter profit rose 23%, driven by stronger margins. Net income climbed to $33.1 million or 65 cents a share from $26.9 million or 52 cents a share, in the year-earlier quarter. Revenue climbed 5.1% to $616.5 million. Revenue from tuxedo rental services climbed to $98.5 million from $78.5 million. The Company said that earlier Easter, pushed up the prom season, which generally falls in the fiscal second quarter. Same-store-sales, a key measure in retail chain’s performance, increased at its namesake stores but fell 2.8% and 5.3% at Moores and K&G stores, respectively.
Continue reading Major Movers on June 13; MW, PVH, SWY, GCI, BBRY, PCO
Major Movers on March 14; VRA, LCUT, EFTC, EBAY, MW, AMZN
Shares of Vera Bradley Inc. (NASDAQ: VRA) slumped on Thursday after the handbag and travel leisure accessories maker provided downbeat outlook on the current quarter and full-year, late last evening. However, fiscal fourth-quarter results exceeded Street’s estimates. For the quarter ended February 2, The Fort Wayne-based Company reported a profit of $25.1 million, or 62 cents a share, up from $20.1 million, or 50 cents a share, in the same period of last fiscal.
Continue reading Major Movers on March 14; VRA, LCUT, EFTC, EBAY, MW, AMZN
Men’s Wearhouse Shares Rally as Company Seeks Strategic Alternatives for K&G Operations (MW)
Although the Men’s Wearhouse Inc.’s (NYSE: MW) fiscal fourth-quarter results fell short of Street’s estimates due to “challenging macroeconomic environment”; shares rallied in afterhours trading on Wednesday after the specialty men’s suit maker said that it has hired Jefferies & Co. to help evaluating strategic alternatives for its K&G operations. The Company is inclined focusing more on its Men’s Wearhouse and Moores clothing retailing.
Men’s Wearhouse Shares Surge on Q2 Results (MW)
Shares of Men’s Wearhouse Inc. (NYSE: MW) surged in trading today after the retailer posted better-than-expected second-quarter profit, driven by solid sales and improved margins.
Continue reading Men’s Wearhouse Shares Surge on Q2 Results (MW)
Major Gainers and Losers on September 6; MW, OCZ, PAU, NAV, WXS, MXTX, AMZN, SHLD
Shares of The Men’s Wearhouse Inc. (NYSE: MW), a specialty retailer of men’s suits and a provider of tuxedo rental product in the U.S. and Canada, surged in trading today after the company reported its second-quarter financial results.
Continue reading Major Gainers and Losers on September 6; MW, OCZ, PAU, NAV, WXS, MXTX, AMZN, SHLD