Tailored Brands Q2 results

Mumbai: Tailored Brands has unveiled consolidated financial results for the second quarter ended July 29, 2017. The last year’s store closures have significantly affected the net and retail net sales of the company which declined by 6.5 per cent and 4.5 per cent, respectively. The company’s total net sales stood at US $ 850.8 million.

Mumbai: Tailored Brands has unveiled consolidated financial results for the second quarter ended July 29, 2017. The last year’s store closures have significantly affected the net and retail net sales of the company which declined by 6.5 per cent and 4.5 per cent, respectively. The company’s total net sales stood at US $ 850.8 million.

Additionally, a decline in transactions partially offset by an increase in average unit retail resulted in a 2.2 per cent decrease in comparable sales for the retailer’s largest brand Men’s Wearhouse during the reporting quarter.

K&G’s comparable sales also dropped by 1.7 per cent. However, the comparable sales for Jos. A. Bank brand increased by 7.8 per cent primarily due to an increase in transactions, the company claims. The company expects to close around 20 stores by the year end in view of the tough retail scenario.