Home / Knowledge / News / Apparel/Garments / Tailored Brands Q1 2017 operating income totals $48.2 mn
Tailored Brands Q1 2017 operating income totals $48.2 mn
Jun '17
On an adjusted basis, the operating income of Tailored Brands for the first quarter of 2017 was $48.2 million compared to $47.5 million in the same quarter of previous year. The company reported GAAP diluted EPS of $0.04, which includes $0.23 of costs to terminate Macy's tuxedo rental agreement, compared to GAAP diluted EPS of $0.03 of last year.

"After a tough February, our first quarter comparable sales improved as the quarter progressed," said Tailored Brands chief executive officer Doug Ewert. "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.  As such, we are reaffirming our EPS outlook for fiscal 2017 that we provided on May 3, 2017" said Ewert.

"We are gaining traction on our initiatives of engaging more customers across all channels, strengthening our omni-channel experience and increasing sales of custom clothing. These initiatives support our strategy to innovate the best men's specialty store of the future by delighting our customers with an unmatched level of convenience, authority and personalisation," he added.

For the reported quarter, net sales decreased 5.5 per cent to $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 declines. Corporate apparel segment net sales also decreased 8.0 per cent primarily due to unfavorable currency fluctuations partially offset by higher US sales.

"We are committed to a balanced approach of investing in the business while maintaining discipline in our management of inventory, expense and capital, and finding opportunities to unlock additional cash flow," said Ewert.

For fiscal 2017, the company continues to expect comparable sales for Men's Wearhouse to be down low-single digits. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 20th Feb 2020

Bangla garment accessories sector may lose Tk 1500 cr

Bangladesh's garments accessories and packaging sector may incur a...

Pic: Shutterstock

Apparel/Garments | On 20th Feb 2020

PRC firm builds protective suit production line in 8 days

Korla Bingjuan Garment Co., a garment factory in northwest China's...

Pic: paul prescott / Shutterstock.com

Textiles | On 20th Feb 2020

Sri Lanka's textile exports earn $5.596 bn in 2019

Sri Lanka’s earnings from textiles and garments exports increased by...

Interviews View All

Hannah Lane, Redress

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Frank Heislitz, Freudenberg

Frank Heislitz

Freudenberg Performance Materials is a leading global manufacturer of...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin, Chapurin

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search