This is a summary of the third quarter fiscal 2007 earnings conference call conducted by Men''s Wearhouse, Inc. (MW: chart) on November 28, 2007.

Management:
EVP, CFO, Treasurer and Principal Financial Officer: Neill P. Davis
Chairman and CEO: George Zimmer

Key Investor Issues:

- Net income rose to $37.1 million, or 69 cents per share, compared with $31.8 million, or 58 cents per share, a year ago.
- Revenue rose to $512.1 million from $430.1 million.
- Same-store sales declined 2.1% in the U.S.
- Tuxedo rental revenue climbed 19% from a year ago.

Third Quarter Financial Highlights:

- Third quarter earnings per share of 69 cents, which represents a year-over-year growth of 19% was slightly below the company’s original guidance of 70 to 73 cents.
- It was at the high end of the revised guidance range of 66 to 70 cents, provided at the mid-quarter update in early October.
- The third quarter 2007 results included 5 cents accretion from the acquisition of After Hours Formalwear earlier in the year and a strong Canadian dollar provided one penny of upside.

The effective tax rate was higher this year over last year, which had the effect of increasing last year''s earnings per share about 2 cents.

Operating income margin increased 21 basis points to 11.55% as gross margin expansion more than offset increases in SG&A expenses.

Based on the initial sales results for November, the fourth quarter is expected to be challenging, and therefore the company has modified its guidance.

The company is making modest changes to its promotional activities, and has reviewed the inventory positions in consideration of the range of the provided guidance. Overall, Men''s Wearhouse is comfortable with the mix and levels of inventory and doed not foresee issues, which would cause the company to modify its historical markdown cadence. That said, the company is establishing the fourth quarter ''07 earnings per share in a range of 43 to 48 cents and for the full year, a range of $2.87 to $2.92.

Total company''s sales increased 19.1% to $512.1 million.

- Tuxedo rental revenues representing 18.8% of total sales in the quarter increased to 178.6%, which is largely influenced by the addition of After Hours.
- Tuxedo rental revenues excluding After Hours increased 13.6%.
- At the mid-quarter update, Men''s Wearhouse indicated that it would be below plan with its sales estimate for After Hours.
- The company is on target with those lower estimates.

Comparable store sales decreased 2.1% for the United States-based stores, below our initial expectations of flat to an increase of 1%.

This performance versus plan is a reflection of weaker than expected results at K&G stores, and seasonally warmer weather conditions during the quarter and continued weakness in the California and Florida markets. The combined effects of the under performance in the seasonal product categories affected by the warmer weather patterns and the persistent regional challenges in California and Florida reduced the company’s U.S. comparable store sales by approximately 2%. Without these influences, the U.S. comparable store sales results would have been flat for the quarter.

Comparable store sales increased 0.6% for the company''s Canadian-based stores, and was below the initial guidance of an increase of 2% to 4%.

- Canadian business was impacted by the unseasonably warm weather.
- Gross margin for the quarter increased 385 basis points to 46.95% from 43.10%.

The company continues to realize year-over-year improvement in merchandise margins, as well as benefit from the accretive impact of a greater tuxedo rental revenue mix of consolidated sales. The mix of rental revenues for the third quarter was 18.8% of consolidated sales versus a mix of 8% in the prior year quarter.

Excluding the impact of After Hours, gross profit as a percentage of sales increased 133 basis points over the prior year, and is a direct reflection of the success the company’s merchants have achieved in expanding product margins across all of Men''s Wearhouse retail concepts. This is being done principally on cost and not through price increases.

Selling, general and administrative expenses as a percentage of sales increased 364 basis points to 35.40% from 31.76%.