Tailored Brands, a US-based leading omni-channel specialty retailer of menswear, has announced its fiscal 2019 results that ended on February 1, 2020. Net sales in FY19 decreased to $2.88 billion compared to $3.0 billion in prior year. Operating income for the year fell from $225.6 million prior year to $97.8 million in the reported fiscal.
Tailored Brands, a US-based leading omni-channel specialty retailer of menswear, has announced its fiscal 2019 results that ended on February 1, 2020. Net sales in FY19 decreased to $2.88 billion compared to $3.0 billion in prior year. Operating income for the year fell from $225.6 million prior year to $97.8 million in the reported fiscal.#
Net sales in the fourth quarter (Q4) FY19 was $608.8 million (Q4 FY18: 646.8 million). Total gross margin over the year 2019 was $1.16 billion ($1.31 billion). Selling, general and administrative expenses (SG&A) in FY19 was reported to $911.7 million compared to $919.8 million prior year.
Tailored Brands, a US-based leading omni-channel specialty retailer of menswear, has announced its fiscal 2019 results that ended on February 1, 2020. Net sales in FY19 decreased to $2.88 billion compared to $3.0 billion in prior year. Operating income for the year fell from $225.6 million prior year to $97.8 million in the reported fiscal.#
Men's Wearhouse sales fell 3.9 per cent in the year to $1.65 billion. Sales of Jos A Bank reduced 2.8 per cent to $706.0 million. K&G sales in FY19 decreased marginally 0.3 per cent to $318.4 million. Moores sales were down 6.8 per cent to $200.9 million.
Tailored Brands, a US-based leading omni-channel specialty retailer of menswear, has announced its fiscal 2019 results that ended on February 1, 2020. Net sales in FY19 decreased to $2.88 billion compared to $3.0 billion in prior year. Operating income for the year fell from $225.6 million prior year to $97.8 million in the reported fiscal.#
“Fiscal 2020 got off to a solid start, with total retail comparable sales up 2.4 per cent and all brands positive in February. However, over the past two and a half weeks, we've seen a deceleration in comparable sales across brands, coinciding with heightened actions taken by governments, businesses, schools and citizens to curb the spread of Covid-19, Tailored Brands president and CEO Dinesh Lathi, said in a press release.
Tailored Brands, a US-based leading omni-channel specialty retailer of menswear, has announced its fiscal 2019 results that ended on February 1, 2020. Net sales in FY19 decreased to $2.88 billion compared to $3.0 billion in prior year. Operating income for the year fell from $225.6 million prior year to $97.8 million in the reported fiscal.#
Beginning March 17th, we have decided to close stores in the US and Canada until March 28th to ensure the safety and well-being of our employees and customers. We will continue to monitor this timing based on guidance from health authorities.”
Fibre2Fashion News Desk (JL)
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