Why Shares of Tailored Brands Jumped Today
Shares of menswear retailer Tailored Brands (NYSE: TLRD) jumped on Tuesday following positive comments from an executive in MR magazine. The company has suffered slumping comparable sales through the first half of 2017, with the core Men's Wearhouse brand particularly weak. The executive's comments suggest that business has started to pick up in the past month. As of 12:43 p.m. EDT, Tailored Brands stock was up about 14%.
Comparable sales declined by 1.1% in the first half of 2017 for Tailored Brands. The Men's Wearhouse brand suffered a 2.6% decline, while Jos. A. Bank saw comps jump 5.7%. The acquisition of Jos. A. Bank has been an unmitigated disaster, with the company's attempts to end the brand's highly promotional strategy leading to an exodus of customers. That comparable sales increase is less impressive given the steep declines suffered since the brand was acquired.
Image source: Tailored Brands.
Source: Fool.com
