moores news and archive

Tailored Brands to reduce workforce, close around 500 stores

Tailored Brands, Inc. is implementing a series of operating and organizational changes due to the unprecedented and industry-wide business disruptions resulting from the coronavirus pandemic. The actions include elimination of approximately 20 percent of its corporate positions by the end of the fiscal second quarter and closure of around 500...

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Tailored Brands Q1 sales decline by 60.4 percent

Tailored Brands, Inc. reported total retail comparable sales up 2.4 percent and all brands positive in February, however, the company said, in response to the Covid-19 pandemic, on March 17, Tailored Brands closed all stores and on March 20 it closed all e-commerce fulfilment centres in the U.S. and Canada. The company’s e-commerce fulfilment...

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Tailored Brands reopens ecommerce fulfilment centres, to donate 50,000 face masks

Tailored Brands, Inc. has reopened its ecommerce fulfilment centres effective March 30 and these centres have begun shipping online orders. The company also announced that its factory in New Bedford, Massachusetts, in conjunction with a leading privately held manufacturer and distributor of medical supplies, will begin the production of cotton...

Fashion

Tailored Brands furloughs all US store employees

Tailored Brands, Inc. has decided to extend the temporary closure of its retail stores until at least May 4, 2020. In conjunction with the decision to extend the store closure window, Tailored Brands announced it would implement additional cost reductions, including furloughing all U.S. store employees as well as a significant portion of...

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Tailored Brands reports Q4 loss, sales drop 5.3 percent

Tailored Brands, Inc. for the fourth quarter reported GAAP net loss of 38.6 million dollars compared to net earnings of 3.8 million dollars last year, while diluted loss per share was 80 cents compared to diluted EPS of 8 cents last year. On an adjusted basis, net loss was 22.5 million dollars compared to net loss of 17 million dollars last...

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Tailored Brands to shutter retail stores in the US and Canada

Tailored Brands, Inc., has announced that in response to the coronavirus and to protect the health and safety of customers, employees and the communities it serves, will temporarily close retail locations in the U.S. and Canada starting March 17 through March 28, 2020. “The safety and well-being of our employees, our customers, and our...