EmailMen's Wearhouse (MW $28.80 -6.77) reported a fourth quarter loss of $0.05 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of ($0.13), while revenues rose 3.7% year/year to $562.2 million versus the $563.5 million consensus. The company issued downside guidance for the first quarter with GAAP EPS of $0.53-0.54 versus the $0.63 consensus. The company issued upside guidance for fiscal year 2013 with EPS of $2.70-2.78 versus the $2.63 consensus.
Corporate apparel sales are expected to decline in Q1 and Q2 largely offset by increases in Q3 and Q4 as the company's United Kingdom operations anniversary new customer additions in fiscal 2011 and initiation of new customer programs in fiscal 2012. Also, several seasonal shifts are expected to impact the quarterly sales results of the company's tuxedo rental business. Specifically, the calendar shift of the Easter Holiday will favorably impact Q1 and negatively impact Q2. The anniversary of the peak rental period in November 2011 is expected to favorably impact Q3 and negatively impact the fourth quarter.
