The company's first-quarter earnings and revenue beat, though
Shares of Tailored Brands Inc (NYSE:TLRD) are bracing for a sharp drop at the open, after the Men's Wearhouse parent said same-store sales (SSS) rose a less-than-expected 2.1% in the first quarter, and reiterated its weak full-year guidance. This is offsetting quarterly earnings and revenue beats, with TLRD stock down almost 17% in electronic trading -- which would mark its biggest one-day loss since March 9, 2017.
Heading into today's trading, TLRD shares had been on a long-term uptrend -- nearly tripling in value year-over-year, based on last night's close at $33.45, and holding near their May 14 annual high of $35.94. Helping the retail stock along the way has been its 40- and 80-day moving averages, which are both at risk of being breached in today's projected sell-off.

On the sentiment front, short sellers have started covering their bearish bets -- which has likely had a positive effect on the stock. Short interest fell almost 15% in the two most recent reporting periods to 6.22 million shares, representing 12.8% of TLRD's available float. These traders will be sidelined from making any moves today, with Tailored Brands all but guaranteed to land on the short-sale restricted list.
However, there's plenty of room for analysts to chime in on the retail shares. Only two brokerages currently follow TLRD stock, with one maintaining a "strong buy" rating and the other sporting a lukewarm "hold" recommendation. Plus, the average 12-month price target of $35.50 is a 6.1% premium to last night's close.