Men's Wearhouse Reports Q2 Net Sales Of $920.1 Million, Jos. A. Bank Struggles

Men's Wearhouse Inc. on Tuesday reported a second-quarter net sales decrease of 1.1% to $920.1 million, missing the FactSet consensus of $946.8 million. Adjusted earnings per share were $1.07 for the quarter ending August 1. The FactSet consensus was $1.05. Comparable sales increased among most of the company's brands: 3.1% at Men's Wearhouse, 0.7% at Moore's, and 6.7% at K&G. Jos. A. Bank comparable sales, however, fell 9.4%. "Now that we have a full year under our belt, we have become even more convinced that changing the promotional messages to be clear and compelling without unusual quantity requirements, like buy one get three free offers, will broaden the appeal of the Joseph A. Bank brand," said CEO Doug Ewert.