Exhibit 99.1
 
The Men’s Wearhouse, Inc.


     News Release
  (The Mens Wearhouse, Inc. Logo)
For Immediate Release
MEN’S WEARHOUSE REPORTS
FISCAL 2008 SECOND QUARTER RESULTS
  Q2 2008 GAAP diluted EPS was $0.63 and adjusted diluted EPS was $0.72, compared with Q2 2007 GAAP diluted EPS of $1.00
 
  Company estimates Q3 2008 GAAP diluted EPS in a range of $0.34 to $0.38 and adjusted diluted EPS in a range of $0.36 to $0.40
 
  Company estimates fiscal 2008 GAAP diluted EPS in a range of $1.38 to $1.48 and adjusted diluted EPS in a range of $1.50 to $1.60
 
  Conference call at 5:00 pm eastern today
HOUSTON — August 27, 2008 — The Men’s Wearhouse (NYSE: MW) today announced its consolidated financial results for the second quarter ended August 2, 2008.
                                         
Second Quarter Sales Summary—Fiscal 2008
                    Total Sales    
    U.S. dollars, in millions   Change %   Comparable Store Sales Change %
    Current Year   Prior Year           Current Year   Prior Year
Total Company
  $ 545.3     $ 569.3       -4.2 %                
MW
  $ 362.7 (a)   $ 386.7 (a)     -6.2 %     - 7.8% (b)     + 3.7% (b)
K&G
  $ 96.4     $ 101.2       -4.7 %     - 8.9%     - 6.9%
United States
  $ 470.0     $ 496.5       - 5.3 %     - 8.0%     + 1.1%
Moores
  $ 75.3     $ 72.8       + 3.3 %     - 2.8% (c)     + 8.4% (c)
                                         
Year-To-Date Sales Summary—Fiscal 2008
                    Total Sales    
    U.S. dollars, in millions   Change %   Comparable Store Sales Change %
    Current Year   Prior Year           Current Year   Prior Year
Total Company
  $ 1,036.4     $ 1,065.5       -2.7 %                
MW
  $ 690.6 (a)   $ 719.0 (a)     - 3.9 %     - 7.2% (b)     + 2.0% (b)
K&G
  $ 197.0     $ 211.2       -6.7 %     - 11.6%     - 6.6%
United States
  $ 911.3     $ 947.4       - 3.8 %     - 8.2%     - 0.1%
Moores
  $ 125.1     $ 118.1       + 5.9 %     - 3.3% (c)     + 7.3% (c)
 
(a)   Includes retail stores and ecommerce as well as the MW Tux stores resulting from the acquisition of After Hours on April 9, 2007.
 
(b)   Comparable store sales do not include ecommerce. MW Tux stores are included beginning Q2 of fiscal 2008.
 
(c)   Comparable store sales change is based on the Canadian dollar.

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Diluted earnings per share were $0.63 for the second quarter ended August 2, 2008. Adjusted diluted earnings per share were $0.72 after excluding $4.5 million (net of tax), $0.09 per diluted share outstanding, of closure costs incurred in connection with the Company’s previously announced planned closure of the Canadian based manufacturing facility operated by the Company’s subsidiary, Golden Brand. This compares to adjusted diluted earnings per share guidance given July 9, 2008 of $0.70 to $0.74.
SECOND QUARTER HIGHLIGHTS
    Total company sales decreased 4.2% for the quarter.
    Apparel sales, representing 70.81% of 2008 total net sales, decreased 4.0% primarily due to decreases in the Company’s comparable store sales driven by a reduction in store traffic levels.
 
    Tuxedo rental revenues, representing 23.37% of 2008 total net sales, decreased 5.3%. This decline was primarily driven by reduced tuxedo rental sales at the Company’s stores acquired from After Hours. These declines were partially offset by increases at the Company’s Men’s Wearhouse stores.
    Gross margin before occupancy costs, as a percentage of total net sales, decreased 27 basis points from 60.20% to 59.93%. Decreases in clothing product margins, as a percentage of related sales, of 110 basis points were offset by an increase in tuxedo rental services gross margin, as a percentage of related sales, of 302 basis points from 80.66% to 83.68%.
 
    Occupancy costs increased, as a percentage of total net sales, by 154 basis points from 11.99% to 13.53% primarily due to the deleveraging effect of reduced comparable store sales and increased rental rates for new and renewed leases.
 
    Selling, general, and administrative expenses were $198.9 million. Excluding $7.3 million in costs associated with the closing of Golden Brand, SG&A expenses of $191.6 million were essentially flat compared to the prior year quarter and as a percentage of total net sales increased 144 basis points from 33.69% to 35.13%. This increase was primarily due to the deleveraging effect of reduced net sales.
 
    Operating income was $54.2 million. Excluding $7.3 million in costs associated with the closing of Golden Brand, operating income was $61.5 million, or 11.27% of total net sales compared to $82.7 million, or 14.52% of total net sales for the same period last year.
 
    The effective tax rate for the 2008 second quarter was 39.0%.

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THIRD QUARTER 2008 GUIDANCE
On July 11, 2008, the Canadian based manufacturing facility operated by the Company’s subsidiary, Golden Brand, was closed. The Company estimates the pre tax cost to close the facility will be approximately $9.8 million or the equivalent of $0.12 per diluted share outstanding for the fiscal year. The pre tax cost for the first quarter was $0.9 million or the equivalent of $0.01 per diluted share outstanding. The pre tax cost for the second quarter was $7.3 million or the equivalent of $0.09 per diluted share outstanding and the pre tax cost for the third quarter is estimated at $1.6 million or the equivalent of $0.02 per diluted share outstanding.
Excluding the estimated Golden Brand closure costs for the third quarter of $0.02 per diluted share outstanding, the Company expects adjusted diluted earnings per share to be $0.36 to $0.40. Including these costs, GAAP diluted earnings per share are expected to be $0.34 to $0.38. This guidance assumes same store sales at MW, including MW Tux stores, to decrease in the high single digit range, at K&G to decrease in the mid single digit range and at Moores to decrease in the low single digit range.
The guidance includes an estimated effective tax rate of approximately 38.5% for the third quarter. The fully diluted shares outstanding are estimated to be 51.9 million.
FISCAL 2008 GUIDANCE
The Company is updating its adjusted diluted earnings per share outlook for the year to a range of $1.50 to $1.60 excluding the estimated Golden Brand closure costs of $0.12 per diluted share outstanding. Including these costs, GAAP diluted earnings per share are expected to be $1.38 to $1.48. This annual guidance reflects a comparable store sales decrease in the mid single digits for TMW, a high single digit decrease at K&G, and a low single digit decrease for Moores.
CONFERENCE CALL AND WEBCAST INFORMATION
At 5:00 p.m. Eastern time on Wednesday, August 27, 2008, company management will host a conference call and real time web cast to review the fiscal second quarter and its outlook for fiscal 2008.
To access the conference call, dial 303-262-2137. To access the live webcast presentation, visit the Investor Relations section of the Company’s website at www.tmw.com. A telephonic replay will be available through September 3, 2008 by calling 303-590-3000 and entering the access code of 11117171# or a webcast archive will be available free on the website for approximately 90 days.

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STORE INFORMATION
                                                 
    August 2, 2008   August 4, 2007   February 2, 2008
    Number   Sq. Ft.   Number   Sq. Ft.   Number   Sq. Ft.
    of Stores   (000's)   of Stores   (000's)   of Stores   (000's)
Men’s Wearhouse
    572       3,213.9       553       3,091.8        563       3,152.6  
MW Tux (a)
    493       668.6       500       639.5       489       652.0  
Moores, Clothing for Men
    116       721.2        116       722.6       116       719.8  
K&G (b)
    106       2,442.6       100       2,326.8        105       2,428.8  
     
Total
    1,287       7,046.3       1,269       6,780.7       1,273       6,953.2  
 
(a)   MW Tux stores resulting from the acquisition of After Hours on April 9, 2007.
(b)   90, 83 and 89 stores, respectively, offering women’s apparel.
Founded in 1973, Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,287 stores. The Men’s Wearhouse, Moores and K&G stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories and the MW Tux (formerly After Hours) stores carry a limited selection. Tuxedo rentals are available in the Men’s Wearhouse, Moores and MW Tux stores.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be significantly impacted by various factors, including sensitivity to economic conditions and consumer confidence, possibility of limited ability to expand Men’s Wearhouse stores, possibility that certain of our expansion strategies may present greater risks and other factors described in the Company’s annual report on Form 10-K for the year ended February 2, 2008 and Form 10-Q for the quarter ended May 3, 2008.
For additional information on Men’s Wearhouse, please visit the Company’s website at www.tmw.com.
     CONTACT:   Neill Davis, EVP & CFO, Men’s Wearhouse (281) 776-7200
Ken Dennard, DRG&E (713) 529-6600

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(the Mens Wearhouse, Inc. Logo)
  THE MEN’S WEARHOUSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
FOR THE THREE MONTHS ENDED
August 2, 2008 AND August 4, 2007

(In thousands, except per share data)
                                 
    Three Months Ended  
            % of             % of  
    2008     Sales     2007     Sales  
     
Net sales:
                               
Clothing product
  $ 386,108       70.81 %   $ 402,399       70.68 %
Tuxedo rental services
    127,453       23.37 %     134,570       23.64 %
Alteration and other services
    31,728       5.82 %     32,377       5.69 %
     
Total net sales
    545,289       100.00 %     569,346       100.00 %
 
                               
Cost of sales:
                               
Clothing product including buying and distribution costs
    172,474       31.63 %     175,313       30.79 %
Tuxedo rental services
    20,802       3.81 %     26,020       4.57 %
Alteration and other services
    25,204       4.62 %     25,250       4.43 %
Occupancy costs
    73,766       13.53 %     68,265       11.99 %
     
Total cost of sales
    292,246       53.59 %     294,848       51.79 %
 
                               
Gross margin
    253,043       46.41 %     274,498       48.21 %
 
                               
Selling, general and administrative expenses
    198,886       36.47 %     191,822       33.69 %
     
 
                               
Operating income
    54,157       9.93 %     82,676       14.52 %
 
                               
Interest income
    (694 )     (0.13 %)     (1,671 )     (0.29 %)
Interest expense
    1,040       0.19 %     1,123       0.20 %
     
 
                               
Earnings before income taxes
    53,811       9.87 %     83,224       14.62 %
 
                               
Provision for income taxes
    20,986       3.85 %     28,998       5.09 %
     
 
                               
Net earnings
  $ 32,825       6.02 %   $ 54,226       9.52 %
     
 
                               
Net earnings per share:
                               
Basic
  $ 0.64             $ 1.01          
 
                           
Diluted
  $ 0.63             $ 1.00          
 
                           
 
                               
Weighted average common shares outstanding:
                               
Basic
    51,639               53,739          
 
                           
Diluted
    51,862               54,366          
 
                           

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(the Mens Wearhouse, Inc. Logo)
  THE MEN’S WEARHOUSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)
FOR THE SIX MONTHS ENDED
August 2, 2008, August 4, 2007 AND PRO FORMA August 4, 2007

(In thousands, except per share data)
                                                 
    Six Months Ended  
            % of             % of     Pro Forma     % of  
    2008     Sales     2007     Sales     2007     Sales  
     
Net sales:
                                               
Clothing product
  $ 774,599       74.74 %   $ 805,899       75.64 %   $ 809,417       73.89 %
Tuxedo rental services
    197,647       19.07 %     194,430       18.25 %     220,764       20.15 %
Alteration and other services
    64,139       6.19 %     65,135       6.11 %     65,263       5.96 %
     
Total net sales
    1,036,385       100.00 %     1,065,464       100.00 %     1,095,444       100.00 %
 
                                               
Cost of sales:
                                               
Clothing product including buying and distribution costs
    340,965       32.90 %     353,157       33.15 %     355,771       32.48 %
Tuxedo rental services
    33,367       3.22 %     35,689       3.35 %     39,930       3.65 %
Alteration and other services
    49,935       4.82 %     49,405       4.64 %     49,405       4.51 %
Occupancy costs
    147,320       14.21 %     126,442       11.87 %     132,836       12.13 %
     
Total cost of sales
    571,587       55.15 %     564,693       53.00 %     577,942       52.76 %
 
                                               
Gross margin
    464,798       44.85 %     500,771       47.00 %     517,502       47.24 %
 
                                               
Selling, general and administrative expenses
    395,536       38.16 %     352,832       33.12 %     382,611       34.93 %
     
Operating income
    69,262       6.68 %     147,939       13.88 %     134,891       12.31 %
 
                                               
Interest income
    (1,515 )     (0.15 %)     (3,303 )     (0.31 %)     (2,825 )     (0.26 %)
Interest expense
    2,639       0.25 %     2,209       0.21 %     2,420       0.22 %
     
 
                                               
Earnings before income taxes
    68,138       6.57 %     149,033       13.99 %     135,296       12.35 %
 
                                               
Provision for income taxes
    25,370       2.45 %     53,874       5.06 %     48,733       4.45 %
     
 
                                               
Net earnings
  $ 42,768       4.13 %   $ 95,159       8.93 %   $ 86,563       7.90 %
     
 
                                               
Net earnings per share:
                                               
Basic
  $ 0.83             $ 1.77             $ 1.61          
 
                                         
Diluted
  $ 0.82             $ 1.74             $ 1.59          
 
                                         
 
                                               
Weighted average common shares outstanding:
                                               
Basic
    51,555               53,851               53,851          
 
                                         
Diluted
    51,863               54,538               54,538          
 
                                         
Note: The pro forma condensed consolidated statement of earnings presents the Company’s results of operations as if the After Hours acquisition had occurred on January 29, 2006, after giving effect to certain purchase accounting adjustments. The pro forma information is not necessarily indicative of actual results had the acquisition occurred on January 29, 2006.

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(the Mens Wearhouse, Inc. Logo)
  THE MEN’S WEARHOUSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
                 
    August 2,     August 4,  
    2008     2007  
ASSETS
               
Current assets:
               
Cash and cash equivalents
  $ 119,248     $ 85,260  
Short-term investments
          49,675  
Accounts receivable, net
    19,047       21,897  
Inventories
    457,212       460,800  
Other current assets
    59,012       66,576  
 
           
 
               
Total current assets
    654,519       684,208  
Property and equipment, net
    400,791       370,066  
Tuxedo rental product, net
    90,860       76,727  
Goodwill
    61,538       62,769  
Other assets, net
    25,351       20,314  
 
           
 
               
Total assets
  $ 1,233,059     $ 1,214,084  
 
           
 
               
LIABILITIES AND SHAREHOLDERS’ EQUITY
               
Current liabilities:
               
Accounts payable
  $ 102,780     $ 98,441  
Accrued expenses and other current liabilities
    118,113       138,975  
Income taxes payable
    9,347       13,715  
 
           
 
               
Total current liabilities
    230,240       251,131  
Long-term debt
    84,221       82,033  
Deferred taxes and other liabilities
    67,320       61,811  
 
           
 
               
Total liabilities
    381,781       394,975  
 
           
 
               
Shareholders’ equity:
               
Preferred stock
           
Common stock
    698       695  
Capital in excess of par
    308,670       298,866  
Retained earnings
    915,541       835,024  
Accumulated other comprehensive income
    38,905       36,063  
 
           
Total
    1,263,814       1,170,648  
 
               
Treasury stock, at cost
    (412,536 )     (351,539 )
 
           
 
               
Total shareholders equity
    851,278       819,109  
 
           
 
               
Total liabilities and equity
  $ 1,233,059     $ 1,214,084  
 
           

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(the Mens Wearhouse, Inc. Logo)
  THE MEN’S WEARHOUSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)
FOR THE SIX MONTHS ENDED
August 2, 2008 AND August 4, 2007

(In thousands)
                 
    Six Months Ended  
    2008     2007  
CASH FLOWS FROM OPERATING ACTIVITIES:
               
Net earnings
  $ 42,768     $ 95,159  
Non-cash adjustments to net earnings:
               
Depreciation and amortization
    46,925       36,757  
Tuxedo rental product amortization
    21,819       25,646  
Other non-cash adjustments
    4,606       (1,128 )
Changes in assets and liabilities
    (30,511 )     (44,765 )
 
           
 
               
Net cash provided by operating activities
    85,607       111,669  
 
           
 
               
CASH FLOWS FROM INVESTING ACTIVITIES:
               
Capital expenditures
    (49,524 )     (52,712 )
Net non-cash assets acquired
          (68,129 )
Purchases of available-for-sale investments
          (267,530 )
Proceeds from sales of available-for-sale investments
    59,921       217,855  
Other investing activities
    12       (65 )
 
           
 
               
Net cash provided by (used in) investing activities
    10,409       (170,581 )
 
           
 
               
CASH FLOWS FROM FINANCING ACTIVITIES:
               
Cash dividends paid
    (7,281 )     (6,015 )
Proceeds from revolving credit facility
    100,600        
Payments on revolving credit facility
    (105,975 )      
Proceeds from issuance of common stock
    1,181       5,622  
Purchase of treasury stock
    (156 )     (43,965 )
Other financing activities
    (1,320 )     1,120  
 
           
 
               
Net cash used in financing activities
    (12,951 )     (43,238 )
 
           
 
               
Effect of exchange rate changes
    (3,263 )     7,716  
 
           
 
               
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
    79,802       (94,434 )
Balance at beginning of period
    39,446       179,694  
 
           
Balance at end of period
  $ 119,248     $ 85,260  
 
           

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