Men's Wearhouse's Tailored Brands Shares Jump 22%

By Claudia Assis Markets MarketWatch Pulse

Tailored Brands Inc. shares jumped more than 20% late Wednesday after the company, which operates Men's Wearhouse and Jos. A. Bank stores, swung to a third-quarter profit and beat sales expectations for the quarter. Tailored Brands said it earned $28.4 million, or 58 cents a share, in the quarter, versus a net loss of $27.2 million in the year-ago period. Sales reached $847 million in the quarter, compared with $865 million a year ago. Analysts polled by FactSet had expected Tailored Brands to report per-share earnings of 55 cents a share on sales of $833 million. Shares ended the regular trading session up 3.4%.

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