And.... the chart is showcasing a breakout as of yesterday.... both good reasons to buy Men's Warehouse (MW). I started a 3% stake, even as same store sales fell last quarter (who cares - everything must go up in a Ben Bernanke market). I will have a relatively tight stop loss level since I am now buying things on rationales that make sense.
Each new name I buy go forward in the endless market rally, I shall deem it the "ABC stock" top ... i.e. my purchase of this name indicates we are nearing the "Men's Warehouse top" in the market. Don't dare me or I'll buy a Chinese solar stock right here, right now.
Last earnings report in early September per Barron's
- Men’s Wearhouse (MW) beat fiscal Q2 revenue and earnings expectations and forecast the year’s profit ahead of estimates.
- Q2 revenue was up 2% from the prior-year period, at $537 million, beating the average $536 million estimate, while profit per share of 83 cents beat the average 77-cent estimate.
- The beat on the top line seems to have been entirely a matter of tuxedo rental revenue: it was up 10%, while apparel sales fell 0.6% thanks to lower traffic at MW stores. Comparable-store sales at MW outlets fell 2%, year over year.
- For Q3, the company sees profit of 40 cents to 47 cents per share, excluding some costs, on revenue growth “in the low double digits.” That’s better than the 40 cents analysts have been expecting on sales growth of just 4%.