Men's Wearhouse Inc. (MW) 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 open sharply higher Thursday and is now up 2.68 at $31.75 on above average volume. The stock has jumped to a month and a half high and has re-crossed both its 50 and 200-day moving averages.
For comments and feedback: editorial@rttnews.com