Tailored Brands Shares Spike After Full-year Guidance Revised

By Tonya GarciaMarketsMarketWatch Pulse

Tailored Brands Inc. shares jumped nearly 8% in late-Wednesday trading after the company updated its fiscal 2017 guidance. The revision was due to earlier news that it had ended its tuxedo rental partnership with Macy's Inc. . Tailored Brands now expects to report one-time charges of about $17.0 million. The company forecasts earnings per share in the range of $1.37 to $1.67, down from previous guidance of $1.45 to $1.75. Adjusted EPS is expected to be in the range of $1.60 to $1.90. The FactSet consensus is for EPS of $1.72. Tailored Brands shares are down 50.7% for the year so far while the S&P 500 index is up 6.7% for the period.

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