=Tailored Brands (TLRD) reported earnings on Wed 12 Sept 18 (a/h)

Tailored Brands reports EPS in-line, revs a little light; reaffirms FY19 EPS guidance and MW, JAB comp guidance 

• Reports Q2 (Jul) earnings of $1.07 per share, excluding non-recurring items, in-line with the two analyst estimate of $1.07; revenues fell 3.3% year/year to $823 mln vs the $828.36 mln two analyst estimate.
• Men's Wearhouse comparable sales increased 1.0%. Comparable sales for clothing increased primarily due to an increase in transactions and a slight increase in average unit retail, partially offset by a decrease in units per transaction. Comparable rental services revenue decreased 11.5%, primarily reflecting timing impacts of the 53-week to 52-week calendar shift, an earlier prom season, and a shift in demand for weddings to the third quarter. The Company expects to report roughly flat comparable rental services revenue in the third quarter.
• Jos. A. Bank comparable sales increased 2.0% primarily due to an increase in transactions, partially offset by a slight decrease in units per transaction, while average unit retail was flat.
• K&G comparable sales increased 3.5% primarily due to an increase in units per transaction and average unit retail partially offset by a slight decrease in transactions.
• Moores comparable sales increased 3.7% primarily due to increases in both transactions and average unit retail, while units per transaction were flat.
• Co reaffirms guidance for FY19, sees EPS of $2.35-2.50, excluding non-recurring items, vs. $2.50 two analyst estimate. The Company continues to expect comparable sales for Men's Wearhouse and Jos. A. Bank to be positive low-single-digits. The Company is increasing its outlook for Moores comparable sales to be positive low-single-digits, up from flat-to-up slightly, and raising its outlook for K&G comparable sales to be flat-to-up slightly, up from flat-to-down slightly.