TLRD - Why Shares of Tailored Brands Are Spiking Today
Shares of Tailored Brands (NYSE: TLRD) traded up more than 11% on Wednesday after a report surfaced that the men's apparel retailer has been approached by a private equity firm regarding a potential acquisition. The report is a rare piece of hopeful news for investors in Tailored Brands, a company that by its own account has faced "significant headwinds" in 2019.
Tailored Brands, owner of the Men's Wearhouse and JoS. A. Bank chains, has grappled with short-term issues including unfavorable foreign currency exchange movements as well as longer-term issues such as a trend toward business casual in the workplace. Investors have largely headed for the exits, with shares down more than 75% over the past year.
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