Edition:
India

Tailored Brands Says Q1 Sales $286.7 Mln


Thursday, 11 Jun 2020 

June 10 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS, INC. PROVIDES BUSINESS UPDATE; REPORTS SELECT PRELIMINARY FIRST QUARTER FISCAL 2020 FINANCIAL METRICS.Q1 SALES $286.7 MILLION.TAILORED BRANDS - CASH & CASH EQUIVALENTS AS OF JUNE 5(TH) OF $201.3 MILLION, EXCLUDING $93.5 MILLION OF RESTRICTED CASH.TAILORED BRANDS - AS OF JUNE 5(TH), 634 STORES, OR 44% OF FLEET, OPEN ACROSS U.S. AND CANADA.TAILORED BRANDS - Q1 NET SALES DOWN 60.4% DUE TO COVID-19 PANDEMIC, WITH FEB COMP SALES UP 2.4% BEFORE PANDEMIC UNFAVORABLY IMPACTED BUSINESS.TAILORED BRANDS - REQUESTED A 45-DAY EXTENSION TO FILE FORM 10-Q FOR Q1 OF FISCAL 2020.TAILORED BRANDS - TOTAL RETAIL COMPARABLE SALES UP 2.4% AND ALL BRANDS POSITIVE IN FEBRUARY.TAILORED BRANDS - TOTAL Q1 E-COMMERCE SALES, INCLUDING RENTAL SERVICES, WERE DOWN 31.9% VERSUS Q1 OF LAST YEAR.TAILORED BRANDS - FOR Q2-TO-DATE THROUGH JUNE 5TH, TOTAL E-COMMERCE SALES, INCLUDING RENTAL SERVICES, ARE DOWN ABOUT 32%.TAILORED BRANDS - IN Q2 FISCAL 2020, SOLD 1 DISTRIBUTION CENTER & 1 OWNED STORE FOR TOTAL NET PROCEEDS OF $13.4 MILLION.TAILORED BRANDS - FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK, MEN'S WEARHOUSE AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 65%.FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK JOS. A. BANK AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 78%.TAILORED BRANDS - FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK K&G AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 40%.