Relative Strength Index (RSI)
|Bid||0.6601 x 1800|
|Ask||0.6700 x 800|
|Day's Range||0.6408 - 0.7200|
|52 Week Range||0.6300 - 7.2400|
|Beta (5Y Monthly)||1.75|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 20, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||0.72 (103.12%)|
|Ex-Dividend Date||Sep 16, 2019|
|1y Target Est||9.90|
Tailored Brands Inc. subsidiary Men's Wearhouse Inc. has not made interest payments due Wednesday of about $6.1 million on its 2022 senior notes, Tailored Brands said in a filing late Wednesday. Instead, the subsidiary and Tailored Brands have chosen to enter a 30-day grace period and could make the payment within that time frame, the company said. At the end of the grace period, a non-payment becomes an "event of default." Tailored Brands did make interest payments on its credit facilities, it said. Shares of Tailored Brands, which also sells apparel under store brands such as Jos. A. Bank and Joseph Abboud, fell more than 2% in the extended session Wednesday after ending the regular trading day down 4% and under $1. The company in early June said it had taken "decisive actions" to manage its liquidity and requested an extension to file quarterly results because of the "disruption" caused by the coronavirus pandemic. Some 44% of its stores, which include Men's Wearhouse and Jos. A. Bank, have reopened, it said. As of June 5, Tailored Brands had $201 million in cash and|NEW] and requested an extension to file quarterly results because of the "disruption" caused by the coronavirus pandemic.
In this article we will check out the progression of hedge fund sentiment towards Tailored Brands, Inc. (NYSE:TLRD) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]
The shares of Tailored Brands, Inc. (NYSE: TLRD) jumped in the after-hours session on Wednesday as the company gave a business update for the first quarter.What Happened The men's fashion retailer said net sales fell 60.4% year-on-year to $286.7 million in the quarter ending on May 2, due to the impact of the novel coronavirus.This is 28.2% lower than the average consensus of $399.4 million of analysts polled by FactSet, CNBC reported.Tailored Brands posted an adjusted profit of $29.7 million.The company noted that it began reopening its retail outlets in the United States and Canada on May 7, after shuttering them in March due to coronavirus-related lockdowns.View more earnings on TLRDAt press time, 44% of its stores had reopened in the two countries, it said.According to Tailored Brands, it had $201.3 million in cash and cash equivalents, excluding $93.5 million of restricted cash, as of June 5.The apparel company said it had asked the U.S. Securities and Exchange Commission for a 45-day extension for filing complete Q1 results.The earnings report comes days after Bloomberg reported that Tailored Brands is considering filing for bankruptcy.Price Action Tailored Brands shares jumped nearly 22% higher in the after-hours session on Wednesday at $1.51. The shares had closed the regular session 12.1% lower at $1.24.See more from Benzinga * Starbucks To Close 400 US Stores As It Restructures Business, Expects .2B Decline In Q3 * Johnson & Johnson To Start Coronavirus Vaccine Human Trials Ahead Of Schedule In July * MGM To Restart 5 Other Las Vegas Resorts In Coming Weeks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The retailer said it has taken "decisive actions to manage liquidity", including borrowing money, while opening nearly half of its stores across the United States and Canada. The pandemic has added to Tailored Brands' woes, as it had already been struggling with competition from fast-fashion brands and a shift to online shopping. "If the effects of the COVID-19 pandemic are protracted and we are unable to increase liquidity ... we may be forced to scale back or terminate operations and/or seek protection under applicable bankruptcy laws," Tailored brands said in a filing.
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Tailored Brands Inc. shares rallied 13% in the extended session Wednesday after the apparel retailer said it had taken "decisive actions" to manage its liquidity and requested an extension to file quarterly results because of the "disruption" caused by the coronavirus pandemic. Some 44% of its stores, which include Men's Wearhouse and Jos. A. Bank, have reopened, it said. As of June 5, Tailored Brands had $201 million in cash and equivalents, it said, excluding $93.5 million of restricted cash. First-quarter sales were down 60% to $286.7 million due to the pandemic, it said. Trends such as "casualization", online sales and digital marketing have accelerated during this time, the company said. "While it's still early and the operating environment remains highly uncertain, we anticipate sales will rebuild gradually during the remainder of the year," Chief Executive Dinesh Lathi said in the statement. "We are planning the business conservatively and will continue to operate with discipline to preserve our liquidity as we navigate this uncertain environment." Some of the actions to shore up liquidity included accessing $310 million in additional borrowings from its credit facility, cutting or deferring expenses, extending payment terms with landlords and suppliers, and furloughing salespeople. Shares of Tailored Brands ended the regular trading day down 12%.
Tailored Brands Reports Business Update and Preliminary Q1 2020 Results
Rating Action: Moody's affirms five classes, places one class on review for downgrade and downgrades six classes in MSBAM 2013- C11; ratings remain on review. Global Credit Research- 10 Jun 2020. Approximately ...
Rating Action: Moody's affirms nine and downgrades five classes of MSBAM 2013- C10. Global Credit Research- 10 Jun 2020. Approximately $1.19 billion of structured securities affected.
(Bloomberg Opinion) -- Investors appear to be getting more upbeat about the post-pandemic fates of major clothing retailers. Shares of companies from Gap Inc. to Urban Outfitters Inc. and Kohl’s Corp. have shot up from April lows as shopping centers start to reopen after Covid-19-related closures. Some chains have trumpeted eye-popping numbers about their re-openings, including T.J. Maxx’s parent, which said sales at reopened stores were higher than they were last year. Abercrombie & Fitch Co. has said sales productivity at reopened U.S. locations was at 80% of 2019 levels, while Guess Inc. said on Wednesday that reopened U.S. locations were at 75% productivity compared to last year. Those kinds of tidbits, along with a better-than-expected May jobs report and consumer surveys showing a willingness to spend, offer fresh hope that something close to normal shopping patterns might return sooner than anticipated. Not so fast. Optimism about the clothing business seems misplaced, at least for now. This retailing category will likely end up more scarred by the pandemic and recession than any other, and the bankruptcies and store closures announced so far are just the beginning of the devastation.In part, this is because many players in the segment didn’t enter this tumult in a position of strength. A long list of clothiers, including Victoria’s Secret, Banana Republic, Chico’s and Express have endured years of lackluster sales as they failed to deliver enticing fashions. And the likes of Macy’s Inc. and Nordstrom Inc. have been trying to reimagine the tired department store format with only limited success. If they were already straining to attract shoppers before the Covid-19 crisis, good luck doing so when many are approaching store visits with caution. It also could prove tough for clothing stores to renegotiate with landlords for more favorable lease terms right now if they weren’t a powerful driver of traffic to shopping centers in the first place.Apparel chains have other unique vulnerabilities in the current moment. Social distancing, of course, has turbocharged the shift toward online shopping. Plenty of clothing retailers have invested heavily in their digital experience and infrastructure in recent years and thus are decently positioned to handle the surge in orders. But return rates for online purchases of clothing are estimated to be far higher than for other types of items, and all that return shipping and restocking could crimp profits. Meanwhile, stores are revamping their procedures around trying on clothes. Nordstrom is opening only a small number of fitting rooms and cleaning them between customers. Kohl’s is keeping them closed altogether. They are right to make adaptations in the interest of public health. But “try before you buy” is crucial to the brick-and-mortar clothing model, and these set-ups just make it that much harder to score a sale. Plus, as Moody’s analyst Raya Sokolyanska pointed out to me, even if shoppers generally get more comfortable going to stores in a post-lockdown world, that doesn’t necessarily mean they’ll have the patience for crowd-control measures. Just because someone is willing to wait in line to buy groceries doesn’t mean they’ll do so for swimsuits or sneakers. Then there’s the merchandise itself. Instead of dressing up for vacations, weddings, church services and board meetings, many shoppers are going to spend the rest of 2020 in sweatpants or their comfy, sartorial cousins. Yes, retailers have spent years making their supply chains speedier and more flexible to react more nimbly to trends. But this situation requires a change in assortment far more profound than adding more off-the-shoulder tops or animal prints, and I fear many of them will end up with piles of blazers, dresses and glittery high heels that they can’t sell. That’s all before you consider another particularly cruel reality that the entire retail industry is facing. For about a decade, stores have been obsessively focused on adapting themselves for the so-called “experience economy,” adding nail salons, personal styling services, coding classes, wine bars, Instagram-worthy photo-ops, or anything else that will convince people to linger and socialize. Those investments feel painfully useless at a moment when shopping safely means doing it in a solo, task-oriented way. So forgive me for not feeling much assurance from the lines seen at T.J. Maxx re-openings or from comments from Macy’s that demand its reopened stores was “moderately” better than their expectations. Those store visits came when shoppers might have had stimulus checks in hand and were itching to get out of the house as states had just begun lifting lockdowns. But after that burst of activity, the unemployment rate will remain high and Covid-19 fears and precautions will remain in place; that will make for extremely tough circumstances for selling clothes. Moody’s estimates that Ebitda will decline by at least 50% for most apparel retailers this year, and that even by 2021, earnings will be 15% to 35% below what they were in 2019. It seems inevitable that some chains won’t survive those conditions. Last month, J. Crew Group Inc. filed for bankruptcy protection, becoming the first major coronavirus casualty, and was followed soon after by Neiman Marcus Group Inc. and J.C. Penney Co. In the past week, Bloomberg News has reported that both Ascena Retail Group Inc., the corporate parent of Ann Taylor and other stores, and Tailored Brands Inc., parent of Men’s Wearhouse, are also considering bankruptcy. The clothing business is just beginning to unravel. It may be nearly unrecognizable by the time this crisis fully takes its toll. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investors need to pay close attention to Tailored Brands (TLRD) stock based on the movements in the options market lately.
According to Coresight Research, as many as 25,000 retail stores could permanently close in 2020. The report comes on the heels of big-box retailer Macy’s warning investors of a ‘gradual’ recovery ahead, while Men’s Wearhouse parent company Tailored Brands is reportedly weighing a bankruptcy filing. The Final Round panel discusses.
Fortunes have turned a little threadbare for Tailored Brands (NYSE: TLRD), the owner of Men's Wearhouse and JoS. Bloomberg reports the retailer is considering a bankruptcy filing among other options after countrywide lockdowns diminished the need for men's suits. Tailored Brands has suffered for years following the ill-fated merger of the two brands in 2016, which larded the retailer's balance sheet with debt just as casual attire in the office and athleisure wear caught on.
Tailored Brands Inc., (TLRD) is reportedly mulling to file for bankruptcy proceedings as demand for new suits stalled during the coronavirus lockdown period which ordered most office workers to stay at home.The stock declined 1.2% to $1.66 in pre-market trading after dropping 9% on Monday.According to a Bloomberg report, the retailer and its advisers are approaching interested parties about restructuring its debts of more than $1 billion. One scenario is a Chapter 11 filing, which would allow Tailored Brands to keep some of its stores operating while other weaker locations would close down to satisfy its creditors.At the same time, Tailored Brands is still looking for alternative forms of financing. The restructuring plans could depend on market conditions and the outlook for stores to re-open, according to the report.Sales have been dented because shoppers had to stay at home during the pandemic, and canceled events such as weddings and other celebrations, curtailed the need for formal wear. The outbreak of the pandemic could not have come at a much worse moment for Tailored Brands, which has seen sales declining every year since 2016 due to changing consumer tastes and e-commerce rivals.Last month the retailer said it would reopen 300 stores by Memorial Day. CEO Dinesh Lathi said in early May that the company was taking “aggressive” measures to preserve liquidity, including furloughing or laying off a majority of corporate staff and distribution employees, borrowing from its credit facility and extending payment terms with suppliers, vendors and landlords. The dividend was suspended in September.Debt issued by its Men’s Wearhouse has cratered to deeply distressed levels since March, with some of its bonds trading below 30 cents on the dollar after sitting near par in February. Meanwhile, shares have this year lost more than 50% of their value.The stock has a Hold analyst consensus with a $1.50 average price target, which indicates 11% downside potential over the coming year. Related News: Macy’s Spikes 15% After-Hours On New Financing Deal Syracuse Is Said To Be In Talks To Buy Bankrupt J.C. Penney; Shares Leap 55% Buckle Down Says Street, As Stitch Fix Sinks 7% Post-Print More recent articles from Smarter Analyst: * Lyft Plans To Switch To 100% Electric Cars By 2030 * IBM, Shell Team Up To Power Digital Platform For Mining Industry * Torpedoed by the Corona Crisis, Can Cruise Lines Recover? * Beyond Meat To Sell Cheaper Plant-Based Burgers Ahead Of Summer Season; Stock Jumps 5%
Tailored Brands (TLRD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody's Investors Service, ("Moody's") today downgraded The Men's Wearhouse, Inc. ("Men's Wearhouse") ratings, including its corporate family rating ("CFR") to Caa2 from B3, probability of default rating ("PDR") to Caa2-PD from B3-PD, secured term loan rating to Caa2 from B3 and unsecured note rating to Ca from Caa2. The company's speculative grade liquidity rating is unchanged at SGL-3.
Neiman Marcus has filed for bankruptcy in a restructuring that will transfer majority ownership of the retailer to its creditors.
The default rate among retailers could rise to 19% by the end of the year, according to Fitch Ratings, and that probably will lead to more filings.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Men's Wearhouse, Inc. (The) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.