TLRD - Tailored Brands Makes the Wrong Fashion Statement
Tailored Brands (NYSE: TLRD) reported third-quarter results on Wednesday that demonstrated the continuing struggles of the men's apparel company. The owner of the Men's Wearhouse and JoS. A. Bank chains is trapped in a world with multiple challenges. For one, its traditional brick-and-mortar network of stores faces tougher times. Second, the traditional office dress code that used to apply in American business is simply becoming lax.
I wouldn't be caught dead in an important meeting without a suit and tie, but times are changing and many others may disagree. Even if you do wear suits to important business events, the traditional office day doesn't require as much of the decorum.
When looking at the third quarter, it's important to note that earnings from continuing operations were actually $27.78 million, or $0.56 per diluted share, while Tailored Brands incurred a loss of $2.35 per diluted share stemming from discontinued operations.