March 8, 2017 / 10:00 PM / 5 months ago

BRIEF-Tailored Brands reports Q4 loss per share of $0.62

2 Min Read

March 8 (Reuters) - Tailored Brands Inc

* Reports fiscal 2016 fourth quarter and full year results

* Q4 GAAP loss per share $0.62

* Q4 earnings per share view $-0.12 -- Thomson Reuters I/B/E/S

* Sees FY 2017 earnings per share $1.45 to $1.75

* Q4 adjusted loss per share $0.19

* 2017 outlook includes an estimated operating loss of between $19 million and $20 million from Macy's Tuxedo business

* During 2016, Macy's Tuxedo business did not ramp as expected

* Outlook for 2017 also assumes decline in our corporate apparel business

* "In addition, our outlook includes an estimated operating loss of between $19 million and $20 million from Macy's Tuxedo business" for 2017

* Actively engaged in discussions with Macy's to restructure agreement

* In 2017, plan to invest approximately $90 million in capital expenditures and to use free cash flow to pay down debt

* Recorded an asset impairment charge of $14 million in Q4 related to fixed assets in Macy's stores

* "Due to early stages of our negotiations, our current 2017 plan assumes no further Macy's store expansion"

* Company expects approximately net 10 store closures in fiscal 2017

* Expects comparable sales in fiscal 2017 for men's wearhouse to be down low-single digits

* Expects comparable sales in fiscal 2017 for Jos. A. Bank to increase mid-single digits, moores and K&G to be down mid-single digits Source text for Eikon: Further company coverage:

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