RETAILER CURRENT
Tailored Brands witnesses tough Q1
Tailored Brands, a leading specialty
retailer of men’s suits, has
consolidated financial results for
the fiscal first quarter ending April
29, 2017. During the quarter under
review, total net sales decreased 5.5
per cent to US $ 782.9 million.
Retail segment net sales decreased
by 5.3 per cent primarily due to the
impact of last year’s store closures
as well as comparable sales decline.
Corporate apparel segment net
sales also decreased by 8.0 per
cent due to unfavourable currency
fluctuations partially offset by
higher US sales.
During the said quarter,
comparable sales at Men’s
Wearhouse decreased by 3.1 per
cent. The drop in comparable sales
resulted principally from a decline
RETAIL SEGMENT
NET SALES
DECREASED BY
5.3% PRIMARILY
DUE TO THE
IMPACT OF LAST
YEAR’S STORE
CLOSURES…
in transactions partially offset by
an increase in average unit retail
while units per transaction were
essentially flat. Comparable rental
services revenue decreased by 0.9
per cent.
Commenting on the
results, Tailored Brands Chief
Executive Officer Doug Ewert said
“After a tough February, our first
quarter comparable sales improved
as the quarter progressed. We
were pleased to have reached
an agreement with Macy’s to
wind down our tuxedo rental
partnership, which eliminates the
risk of extended future operating
losses and enables us to focus
on our rental business at Men’s
Wearhouse, Jos. A. Bank and
Moores.”
Outdoor apparel brand Regatta to make
US debut
UK’s largest outdoor and leisure
clothing brand, Regatta Great
Outdoors, will now make its retail
debut in the US market exclusively
through 11 Sears shops all over
the New England area. From this
fall, the Regatta collections will
be available on sears.com and a
number of Mas