Thursday, December 13, 2018

Tailored Brands’ Q3 sales miss Street, lowers outlook

Chain Store Age
Lower transactions at its Men’s Wearhouse brand took a toll on Tailored Brands’ third quarter sales.

The parent company of brands including Men’s Wearhouse and Jos. A. Bank earned $13.9 million for the quarter ended Nov. 3, compared with $36.9 million for the same period a year ago. 

Retail net sales increased 0.6% primarily due to an increase in retail clothing sales, which drove positive 2.3% retail comparable sales. This was partially offset by a $7.3 million decrease in alteration and other services primarily resulting from the MW Cleaners divestiture. . . . more