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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 2019 THIRD QUARTER RESULTS

 

·

Q3 2019 GAAP diluted EPS and adjusted diluted EPS(1) from continuing operations of $0.56 and $0.53, respectively

·

Company expects FY 2019 adjusted diluted EPS(1) from continuing operations of $0.97 to $1.02

·

Company repurchased $55 million face value of senior notes

·

Company repurchased $10 million of common shares

·

Company appoints Carrie Ask, brand president Men’s Wearhouse and Moores, to newly created chief customer officer role to oversee Men’s Wearhouse, Jos. A. Bank and Moores brands

 

FREMONT, CA — December 11, 2019 — Tailored Brands, Inc. (NYSE: TLRD) today announced consolidated financial results for the fiscal third quarter ended November 2, 2019.

For the third quarter ended November 2, 2019, the Company reported GAAP earnings from continuing operations per diluted share of $0.56 compared to earnings from continuing operations per diluted share of $0.69 in the third quarter last year.  Excluding the impact of certain items in both periods, third quarter 2019 adjusted earnings from continuing operations per diluted share(1) were $0.53 compared to adjusted earnings from continuing operations per diluted share(1) of $0.95 last year. 

 

Third quarter 2019 pre-tax results include $6.2 million of charges related to our multi-year cost savings and operational excellence programs consisting of $5.5 million in consulting costs, $0.6 million in severance costs and $0.1 million in lease termination costs.  In addition, we have reflected the results of the corporate apparel business, including the loss on sale, as discontinued operations for all periods presented.    

 

Tailored Brands President and CEO Dinesh Lathi said, “We are pleased to report third quarter comparable sales and adjusted earnings per share above our expectations.  We delivered sequential comparable sales improvement at both Men’s Wearhouse and Jos. A. Bank, with a return to positive comparable sales at Jos. A. Bank.  On a sequential basis, both brands generated higher transactions and increased comparable sales across multiple merchandise categories.    Our third quarter performance reflects continued progress in each of our transformational strategies, including improved sales in our polished casual categories, higher online sales driven by enhanced e-commerce experiences and online marketing, and new customer acquisition and increased traffic reflecting more effective marketing campaigns and channel strategies.”

 


The following information was filed by Tailored Brands Inc (TLRD) on Wednesday, December 11, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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