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 2018 FOURTH QUARTER AND YEAR END RESULTS

 

·                  FY 2018 GAAP diluted EPS of $1.64 and adjusted diluted EPS(1) of $2.31

·                  FY 2018 retail segment comparable sales up 1.2%

·                  Total debt reduced by $232 million in FY 2018

·                  Company provides guidance for Q1 2019 adjusted diluted EPS(1) of $0.10 to $0.15

 

FREMONT, CA — March 13, 2019 — Tailored Brands, Inc. (NYSE: TLRD) today announced consolidated financial results for the fiscal fourth quarter and year ended February 2, 2019 and provided guidance for the first quarter of fiscal 2019.

 

For the fourth quarter ended February 2, 2019, the Company reported GAAP diluted earnings per share of $0.12 and adjusted diluted loss per share of $0.28, compared to GAAP diluted loss per share of $0.01 and adjusted diluted loss per share of $0.00 for the same period a year ago.

 

Fourth quarter 2018 GAAP results include a favorable non-cash adjustment to net sales totaling $17.6 million reflecting a reduction of the deferred revenue liability as a result of changes made to our loyalty programs during the fourth quarter of 2018.

 

For the fiscal year ended February 2, 2019, the Company reported GAAP diluted EPS of $1.64 and adjusted diluted EPS(1) of $2.31, compared to GAAP diluted EPS of $1.95 and adjusted diluted EPS of $2.20 for the same period a year ago.

 

“In fiscal 2018, we delivered positive retail comps of 1.2%, with all brands positive, and we reported full year adjusted EPS of $2.31, consistent with the revised guidance we provided in January.  We significantly strengthened our balance sheet, reducing our total debt by $232 million and extending the maturity on our term loan to 2025, and we generated strong operating cash flow of $323 million,” said Tailored Brands Executive Chairman Dinesh Lathi.

 

“While all of our retail brands delivered positive comps for the full year, during the fourth quarter, comps at Men’s Wearhouse and Jos. A. Bank were down and this trend has continued into the first quarter of 2019.  We attribute the current softness to both the macro-environment as well as the need for us to execute more quickly and effectively on our core growth strategies: deliver personalized products and services, create inspiring and seamless experiences in and across every channel, and build brands that stand for something more than just price.  Our teams are intently focused on delivering against these objectives in fiscal 2019 as we look to build long-term sustainable value creation for our stakeholders.”

 

In fiscal 2017, the fourth quarter and year included an additional operating week (“53rd week”) compared to fiscal 2018.  Net sales related to the extra week in fiscal 2017 were $45.7 million and the Company estimates that the impact of the extra week was $0.05 per diluted share.

 


The following information was filed by Tailored Brands Inc (TLRD) on Wednesday, March 13, 2019 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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