Douglas Ewert has relinquished the president’s role at Tailored Brands Inc. to Bruce Thorn.
Thorn, formerly executive vice president and chief operating officer, will report to Ewert, who continues as chief executive officer.
“Bruce has been instrumental in driving Tailored Brands’ operational excellence initiatives through a period of tremendous change for our company,” said Ewert. “Under his stewardship, we right-sized our store base, optimized our supply chain and cost structure and strengthened our omnichannel capabilities. We look forward to his ongoing leadership as we continue to innovate the men’s specialty store experience at Tailored Brands.”
Thorn joined the company in June of 2015 and has been overseeing the supply chain, store operations, information technology, strategic planning, omnichannel initiatives and human resources, among other areas. He will continue to serve on the company’s executive committee.
Prior to joining the men’s wear retailer, Thorn was executive vice president of store operations, services and supply chain for PetSmart Inc. He has also worked for Gap Inc., Cintas Corp., Lesco Inc. and the U.S. Army.
Earlier this month, Tailored Brands reported earnings in 2016 of $25 million, or 51 cents a diluted share, up from losses of $1 billion a year earlier. Tailored Brands’ total operating income for the year came in at $132.8 million and compared with losses of $1.1 billion in 2015. However, the company is expecting another tough year in 2017 as a tuxedo rental initiative at Macy’s Inc. has failed to perform up to expectations and an initiative to open rental shops in 300 stores led to losses of $14 million last year and further rollout has been put on hold.