Men's Wearhouse Inc. (MW) lowered its third quarter adjusted EPS forecast to between $0.46 and $0.51 after the bell Thursday, from prior expectations of $0.87. The company also reduced its full year adjusted EPS forecast to between $1.75 and $2.00, from previous guidance of $2.70 to $2.90. The consensus estimates are for EPS of $0.99 and $2.78.
Men's Wearhouse has gapped open dramatically lower Friday morning and is now down 15.58 at $24.53 on the highest volume in 2 months. The stock has plunged to a new low for the year.
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