UPDATE: Casual Male Reports Upbeat Q2 Profit, Reaffirms FY11 Forecast

Casual Male Retail Group Inc CMRG reported upbeat second-quarter profit and reaffirmed its forecast for the year. Casual Male reported its quarterly net income at $6.6 million, or $0.14 per share, up from $5.6 million, or $0.12 per share, in the year-ago period. Its sales climbed 4% to $100.9 million. However, analysts were expecting earnings of $0.13 per share on sales of $99.53 million. Casual Male's same-store sales surged 4.9%. Casual Male projects FY11 earnings of $0.40-$0.45 per share on sales of $405-$410 million. Analysts were expecting earnings of $0.41 per share on sales of $407.1 million. Casual Male shares dropped 0.86% to close at $3.45 yesterday.