Boston, MA 09/13/2013 (wallstreetpr) – Business is doing great for the Men’s Wearhouse, Inc. (NYSE:MW) in the current financial quarter. Stock price – according to the information as provided by the management – has fallen by 10.39% over the last week or so. Estimated revenue for the Men’s Wearhouse Inc for the current quarter was US$ 670.8 million. However, the company has acquired revenue of US$ 647.3 million, which according to simple math, is way down by about US$ 23 million.
In a recent press release, the organization has announced, it is expecting revenue ranging in between US$ 2.40 to 2.50 per share, for its investors in the current financial year. In a stark contrast, the organization provided an earning of US$ 2.75, approximately, per share, last year itself.
One may recall – in this context – discernment had been brewing up over the last few months at a stretch. In June, this year, George Zimmer – who was a minor shareholder – was chucked by the management. In fact, speculation was ripe in the month of August that Zimmerman was going to buyout the organization and was about to drastically modify the existing board of the Men’s Wearhouse Inc directors. However, the deal – which had reached the final stages – had to be called off in the final moment.
A number of reasons started making the rounds to reason with this fallen deal. In fact, the most acceptable reason that surfaced at that juncture may or may not have anything to do with this current downfall. However, the speculation was the private financers who were backing Zimmer on this deal backed out at one point and thus, the expected deal never got through. The Men’s Wearhouse Inc management is tight-lipped about the latest developments shaping out inside the organization. Apparently, it seems the company is absolutely focused on steering clear of this unexpected debacle.