Men's Wearhouse said it will take on a holding company structure effective Jan. 31. The new company, Tailored Brands, will be based in Texas and hints at the retailer's plans for growth.
Tailored Brands, Inc. will replace Men's Wearhouse as the publicly held corporation, and beginning on Feb. 1, shares will trade on the NYSE under the ticker symbol "TLRD."
"We believe the holding company structure will allow us to support, nurture and augment our family of brands as we further leverage our shared services platform," CEO Doug Ewert said in a statement.
Men's Wearhouse acquired Jos. A. Bank last year for $1.8 billion and created the fourth largest men's apparel chain in the United States. But the acquisition hasn't been easy and the company reported double-digit declines in comparable store sales in its last quarter.
-See this Men's Wearhouse press release
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