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Men's Wearhouse (MW) Surged To A 4-Month High On Strategic Alternatives News

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Men's Wearhouse Inc. (MW: Quote) reported a fourth quarter net loss of $0.07 per share after the bell Wednesday, compared to the loss of $0.07 per share last year. The consensus estimate was for a loss of $0.05.

The company also announced that it has hired Jefferies & Co. to assist it in evaluating strategic alternatives for its K&G operations in order to better focus its efforts on Men's Wearhouse and Moores men's specialty apparel retailing.

Men's Wearhouse gapped up sharply Thursday and climbed throughout the first 2 hours of trade. Shares finished with a gain of 5.55 at $34.62 on the highest volume of the year. The stock surged to a 4-month high and re-crossed both its 50 and 200-day moving averages.

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by RTT Staff Writer

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