Men's Wearhouse (NYSE:MW) Crushed on Low Guidance

Even though Men's Wearhouse (NYSE:MW) met or exceeded expectations for their last quarter, guidance from the company was dismal, causing the shares to plummet Wednesday.

Revenue exceeded expectations, coming in at $550.10 million, above the $519.95 million analyst had anticipated, and far above the $462.02 million generated in the third quarter of 2009.

Net income rose to $25.26 million, or $0.47 a share, in line with what analysts had expected.

Same-store sales rose 9.6 percent, a major improvement over the same period last year.

What devastated the shares of Men's Wearhouse was the guidance from the company for the fourth quarter, which they said would be an loss of $0.19 - $0.22 a share, against the consensus of $0.05.

Men's Wearhouse closed Wednesday at $23.65, plummeting $5.09, or 17.71 percent. Volume was over 6 times the 3-month daily average.