March 11, 2016 Comments Off on Men’s Wearhouse Closing 250 Stores Views: 3107 California News, National News

Men’s Wearhouse Closing 250 Stores

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Tailored Brands, parent of the former Men’s Wearhouse, is closing roughly 250 stores this year, including 80 to 90 of its full-price Jos A. Bank stores.

Sales are expected to continue worsening this year, after revenues at Jos. A Bank were battered following its decision last fall to discontinue a popular promotion of “Buy One, Get Three” free.

The Fremont-Calif.-based company is taking actions it believes will “right-size” its store base and optimize its cost structure. Men’s Wearhouse, which changed its name to Tailored Brands in January, acquired the Jos. A. Bank label for $1.8 billion in 2014. The goal is to reduce expenses by $50 million.

Read More at CNBC

Read More at more at Tailored Brands

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