Wedbush Maintains Neutral on Men's Wearhouse

Wedbush is out with its report today on Men's Wearhouse MW, maintaining Neutral. In its report, Wedbush writes, "We hosted a small group lunch with CEO Doug Ewert in San Francisco. Based on our Q2 checks, we anticipate potential Q2 upside to our/consensus forecasts. Looking into the balance of F11, management's outlined the potential to lap tougher H2 comparisons with healthier inventory positions, more targeted and effective marketing, and improved product assortment to continue to drive same store sales and gross margin dollars. Longer-term, we believe MW has numerous strategic initiatives that should allow for solid topline growth and EBIT margin recovery to the +LDD range (from 7.1% projected TY)." Shares of MW closed Tuesday at $26.66.