Shares of Tailored Brands Inc. (TLRD, Financial) jumped nearly 10% on Thursday after reporting second-quarter earnings per share of $1.07 on $823.43 million in revenue, reflecting a 3.2% year-over-year decline. The company fell $4.92 million short of revenue expectations, but earnings were in line with estimates.
The gross margin was $368.9 million, a decrease of $27.8 million as a result of the decline in net sales. As a percent of sales, the consolidated gross margin decreased 180 basis points to 44.8%.
Looking ahead, the company expects earnings per share between $2.35 and $2.50. The company continues to expect comparable sales for Men's Wearhouse and Jos. A. Bank to be in the positive low-single-digits, but increased its outlook for Moores comparable sales to be positive low-single-digits and raised its outlook for K&G comparable sales to be flat to up slightly.
Shares of Oxford Industries Inc. (OXM, Financial) fell more than 0.5% Thursday after reporting second-quarter earnings per share of $1.83 on $302.64 million in revenue, a 6.3% year-over-year growth. The company managed to beat earnings estimates by 2 cents, but fell $3.48 million short of revenue expectations.
During the quarter, the gross profit increased to $179.3 million form $166 million in the prior-year quarter, reflecting higher sales and higher gross margin. The gross margin grew to 59.2% from 58.3% a year ago. The adjusted gross margin advanced 60 basis points to 59.4%.
Looking ahead to the third quarter, the company expects year-over-year increases in direct-to-consumer sales and reductions in wholesale sales. The company expects net sales to range from $235 million to $245 million. It projects GAAP earnings per share between 7 cents and 17 cents. On an adjusted basis, earnings per share are expected to range from 10 cents to 20 cents.
Disclosure: The author holds no positions in any stocks mentioned.
