<p>Tailor-made brands (NYSE: TLRD) for the fourth quarter of 2019 have TLRD shares hitting after Wednesday night. This comes after reporting adjusted losses per share of -46 cents. That is better than the Wall Street estimate of -53 cents per share. However, the clothing company’s revenue of $ 690.97 million cannot match analysts’ estimates of $ 708.49 million.
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Let us now take a closer look at the latest performance report on tailor-made brands.
Adjusted losses per share for the quarter are 64.29% wider than the -28 cents reported in the fourth quarter of 2018. Revenue was 5.35% lower compared to $ 730.01 million during the same period last year. Operating profit of – $ 35 million is a negative change compared to the previous year from an operating profit of $ 13.31 million. The result of tailor-made brands also includes a net loss – $ 34.09 million. This is much worse than the company’s net profit of $ 6.22 million from the same period last year.
Dinesh Lathi, President and CEO of Tailored Brands, said the following in TLRD’s share income report.
“Over the past two and a half weeks, we have seen a decline in comparable inter-brand sales, which coincides with increased measures taken by governments, companies, schools and citizens to limit the spread of COVID-19. As of March 17, we have decided to close stores in the United States and Canada until March 28 to ensure the safety and well-being of our employees and customers. ”
The results report for tailor-made brands does not contain any prospects for the financial year 2020. This is because it is carrying out guidance when the coronavirus from China sweeps the country. It plans to provide more information whenever possible.
The TLRD share fell 8.21% after the markets closed on Wednesday. It also fell by 10.07% when the markets closed.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/tailored-brands-earnings-hammer-tlrd-stock/.
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