Exhibit 99.1

 

News Release

 

Contact:

Investor Relations

(281) 776-7575

ir@tailoredbrands.com

 

Julie MacMedan, VP, Investor Relations

Tailored Brands, Inc.

 

For Immediate Release

 

TAILORED BRANDS, INC. REPORTS

FISCAL 2017 FOURTH QUARTER AND YEAR END RESULTS

 

·                  Fourth quarter retail segment comparable sales increase 2.5%

 

·                  FY 2017 GAAP diluted EPS grows 282% Y-o-Y; Adjusted diluted EPS(1)up 23% Y-o-Y

 

·                  Custom clothing sales more than double to over $100 million in FY 2017

 

·                  Debt reduced by approximately $200 million in FY 2017

 

·                  In March 2018, MW Cleaners subsidiary sold for $18 million

 

·                  Provides FY 2018 GAAP diluted EPS guidance of $2.35 to $2.50

 

FREMONT, CA — March 14, 2018 — Tailored Brands, Inc. (NYSE: TLRD) today announced consolidated financial results for the fiscal fourth quarter and year ended February 3, 2018, and provided guidance for fiscal 2018.

 

For the fourth quarter ended February 3, 2018, the Company reported GAAP diluted loss per share of $0.01 and adjusted diluted loss per share of $0.00, compared to GAAP diluted loss per share of $0.62 and adjusted diluted loss per share of $0.19 for the fourth quarter last year.

 

For the fiscal year ended February 3, 2018, the Company reported GAAP diluted EPS of $1.95 and adjusted diluted EPS of $2.20, compared to GAAP diluted EPS of $0.51 and adjusted diluted EPS of $1.79 last year.

 

In fiscal 2017, the fourth quarter and year included an additional operating week (“53rd week”) compared to fiscal 2016.

 

“In 2017, we delivered significant EPS growth and finished the year strong with positive comparable sales for both Men’s Wearhouse and Jos. A. Bank in the fourth quarter,” said Tailored Brands CEO Doug Ewert.  “Our performance reflects the progress we are making on our key growth strategies.  We more than doubled our custom business to over $100 million in 2017.  We believe Tailored Brands is the largest and fastest growing retailer of men’s custom clothing in North America and we plan to further enhance and differentiate our custom offering in 2018.

 

“We also significantly strengthened our balance sheet, reducing debt by approximately $200 million and lowering inventories by 11%.  In 2018, we plan to further reduce our debt, invest behind our growth strategies and return cash to shareholders via our dividend.

 


The following information was filed by Tailored Brands Inc (TLRD) on Wednesday, March 14, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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