Men's Wearhouse Inc. shares dropped in the extended session Thursday after the menswear retailer slashed its outlook for the third quarter and the year. Men's Wearhouse shares fell 21% to $31.80 after the company blamed sales weakness at Jos. A. Bank, which it acquired last year. The company now forecasts adjusted third-quarter earnings between 46 cents and 51 cents a share, down from its previous forecast of 87 cents a share. For the year, Men's Wearhouse expects adjusted earnings of $1.75 to $2 a share, down from its previous outlook of $2.70 to $2.90 a share. Analysts surveyed by FactSet had estimated 99 cents a share for the third quarter, and $2.78 a share for the year.
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