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Men’s Wearhouse misses mark, bets on back half
HOUSTON — The Men’s Wearhouse raised prices to preserve margins in the face of weak first quarter demand, but it wasn’t enough to prevent profits from falling short of estimates.
The company reported first quarter earnings per share of 52 cents, below guidance of 53 cents to 54 cents a share provided when the company reported fourth quarter results on March 7. Analysts’ expected the company to earn 55 cents a share.