Chain Store Age
Menswear giant Tailored Brands has exited the corporate dress business.
The company, whose brands include Men’s Wearhouse and Jos. A. Bank, said Monday it has closed on the sale of its corporate apparel business to a group led by the existing corporate apparel U.K. executive team for $62 million in cash. The company will use proceeds from the deal to reinvest in its core business and to pay down debt.
The company also updated its guidance for the second quarter. . . . more