Tailored Brands (NYSE:TLRD) earnings for fiscal fourth quarter of 2019 have TLRD stock taking a beating after-hours Wednesday. This comes after reporting adjusted losses per share of -46 cents. That’s better than Wall Street’s estimate of -53 cents per share. The apparel retail holding company’s revenue of $690.97 million, however, isn’t able to match analysts’ estimates of $708.49 million.
Now, let’s take a closer look at the most recent Tailored Brands earnings report.
- Adjusted per-share losses for the quarter are 64.29% wider than the -28 cents reported in fiscal Q4 2018.
- Revenue is sitting 5.35% lower compared to $730.01 million during the same time last year.
- Operating loss of -$35 million is a negative switch year-over-year from an operating income of $13.31 million.
- The Tailored Brands earnings also include a net loss -$34.09 million.
- This is much worse than the company’s net income of $6.22 million from the same period of the year prior.
Dinesh Lathi, president and CEO of Tailored Brands, said the following in the TLRD stock earnings report.
“Over the past two and a half weeks, we’ve seen a deceleration in comparable sales across brands, coinciding with heightened actions taken by governments, businesses, schools and citizens to curb the spread of COVID-19. Beginning March 17th, we have decided to close stores in the U.S. and Canada until March 28th to ensure the safety and well-being of our employees and customers.”
The Tailored Brands earnings report doesn’t include an outlook for fiscal 2020. This is due to it holding off on guidance as the coronavirus from China sweeps the country. It plans to provide more details when able.
TLRD stock was down 8.21% after markets closed Wednesday. It was also down 10.07% when markets closed.
As of this writing, William White did not hold a position in any of the aforementioned securities.