For a single woman, I surprisingly know quite a bit about men's formalwear. I am proud to say I can tie a bow tie, and I can discuss the history of the tuxedo with anyone willing to listen to me ramble on about notched lapels for a few minutes. I like a man in a nice suit, but it seems that I may be a dying breed. Last night, The Men's Wearhouse, Inc. (MW: sentiment, chart, options) reported that third-quarter earnings fell 61%.

For the quarter, MW posted a net income of $14.6 million, or 28 cents per share, compared to a profit of $37.1 million, or 69 cents per share in the same period a year ago. Excluding items, the firm said it earned 30 cents per share. Analysts were looking for the company to report 24 cents per share. Sales fell 10% to $459.7 million from $512.1 million. Analysts had forecast sales of $475.5 million.

Despite the decent earnings release, MW fell to a 5-year low today, as Wedbush cut its price target from $12 to $9, and Stifel slashed its price target from $16 to $15. However, S&P Equity Research upgraded the firm to "hold" from "sell."

The stock has lost more than 75% during the past 52 weeks, slipping beneath its 10-day moving average, faster the cummerbund's retreat from fashion. The stock may find some support at the 8 region, where it was stopped in early 2003.

According to Zacks, Men Wearhouse harbors 2 "strong buy" ratings and 2 "hold" or worse ratings. Furthermore, Thomson Financial reports the stock's average 12-month price target as $19.33, a premium of 100% to yesterday's closing price. Any additional price-target reductions, or downgrades could pressure the shares lower.