Men's Wearhouse Falls on Weak Outlook

Men's Wearhouse ( MW) said second-quarter earnings dropped from a year ago and fell short of analysts' forecasts. The men's clothing and accessories seller is also the latest in a series of retailers to lower expectations for the third quarter.

The 700-store chain earned $7.8 million, or 19 cents a share, compared with $10.3 million, or 25 cents a share, a year ago. Analysts polled by First Call/Thomson Financial had estimated the company to earn 20 cents a share.

The lower earnings and outlook come at a time when the entire retail segment tries to navigate hard-to-predict second-half demand. While enjoying a strong first six months despite the recession, some wonder if the full impact of a weak job market has accrued to retailers' top line.

Revenue at Men's Wearhouse increased 3.8% to $308.6 million in the second quarter from $297.2 million a year ago.

Looking ahead, the company predicted EPS of 25 cents to 26 cents in the third quarter and $1.30 to $1.32 for the year. Analysts polled by First Call predicted the company will earn 37 cents a share for the third quarter and $1.44 for the year.

Shares of Men's Wearhouse were down 10.43% to $18.29 on the New York Stock Exchange.

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