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Tailored Brands Issues Weak Q3 Guidance, Suspends Dividend

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Tailored Brands Inc (NYSE: TLRD) shares were halted around 2:31 p.m. Wednesday afternoon ahead of its second-quarter earnings release that was due out after the closing bell.

About 20 minutes ahead of the close, the company reported second-quarter adjusted earnings of 82 cents per share, beating estimates by 8 cents. Sales came in at $789.5 million, beating estimates by $321,000.

Tailored Brands issued weak third-quarter earnings guidance of 40-45 cents versus an 88 cent estimate and said it expects comparable sales in all segments to decrease.

Tailored Brands also suspended its quarterly dividend.

Tailored Brands shares were up 5.75% at $7.17 before being halted.

Posted-In: Earnings News Guidance Dividends

 

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