Tailored Brands, Inc. announced unaudited consolidated earnings results for first quarter ended May 5, 2018. For the quarter, the company reported total net sales of $817,964,000, operating income of $52,897,000, earnings before income taxes of $18,290,000, net earnings of $13,909,000 or $0.27 per diluted share, non-GAAP operating income of $56,509,000, non-GAAP net earnings of $25,327,000 or $0.50 per diluted share compared to net sales of 782,906,000, operating income of $31,002,000, earnings before income taxes of $6,163,000, net earnings of $1,839,000 or $0.04 per diluted share, non-GAAP operating income of $48,154,000, non-GAAP net earnings of $13,320,000 or $0.27 per diluted share a year ago. Net cash provided by operating activities was $120,228,000 against $33,351,000 a year ago. Capital expenditures were $10,980,000 against $17,786,000 a year ago. Total net sales increased 4.5% to $818.0 million. Retail net sales increased 4.1% primarily due to the benefit from the 53-week to 52-week calendar shift and an earlier Easter, as well as the increase in retail segment comparable sales of 2.1%. Corporate apparel net sales increased 9.6%, or $5.5 million, almost entirely due to the impact of a stronger British pound this year compared to last year.

The company provided earnings guidance for fiscal 2018. The company expects to achieve GAAP diluted EPS in the range of $2.12 to $2.12 and expects Diluted EPS- Non-GAAP Adjusted of $2.35-$2.50. The Company expects the effective tax rate to be approximately 25%. The Company expects depreciation and amortization of approximately $100 million. The Company expects approximately net 10 store closures in 2018 resulting from its continuous review of its real estate portfolio for opportunities to optimize its fleet as lease terms expire. The company expects comparable sales for Men's Wearhouse and Jos. A. Bank to be positive low-single-digits, Moores comparable sales to be flat-to-up slightly and K&G comparable sales to be flat-to-down slightly. The company expects capital expenditures of about $100 million.

For the quarter, the company reported asset impairment charges of $269,000 compared to $2,867,000 a year ago.