Men's Wearhouse 1Q Profit Tops Expectations

DALLAS (AP) — First-quarter profit at clothing retailer Men's Wearhouse Inc. fell 47 percent as fewer customers came in to shop, but cost-cutting measures helped results top Wall Street expectations and the company forecast a strong second-quarter performance.

Shares jumped 9 percent in after-hours trading to $19.49, having closed earlier down 10 cents at $17.87.

The Dallas-based chain retailer, which sells men's suits and other clothing and rents tuxedos, said profit totaled $5.3 million, or 10 cents a share, for the period ended May 2. That's down from year-ago profit of $9.9 million, or 19 cents a share a year ago. ...