Shares of Tailored Brands Inc. dropped 19.9 percent after the company reported first-quarter results, even though it managed to beat Wall Street’s consensus estimates.
For the three months ended May 5, the parent company of Men’s Wearhouse and Jos. A. Bank said it had net income of $13.9 million, or 27 cents a diluted share, from net income of $1.8 million, or 4 cents, a year ago. Diluted earnings per share were 50 cents for the quarter on an adjusted basis. Net sales totaled $818 million, a 4.5 percent increase from $782.9 million a year ago. Excluding income from rental and alteration services, as well as its corporate apparel business, retail sales were up 5.2 percent to $613.6 million from $583.6 million. Comparable-store sales rose 2.1 percent. And the company said its corporate apparel net sales rose 9.6 percent, or $5.5 million mostly due to the impact of a stronger British pound this year. By brand segment, Men’s Wearhouse comps rose 3.2 percent, while comps at Jos. A. Ban rose 1.2 percent. Comps at Moores were up 1.8 percent, but were down 1.7 percent at K&G.
Super-influencer @chiaraferragni doesn't miss a beat— or a party. Last night, she inaugurated Pomellato's newest boutique on Rodeo Drive, decked out in bling from the jewelry brand. At the event, Ferragni took some time to sit down with us to discuss motherhood, being a newlywed, and the hotly-anticipated documentary she is currently filming.
Photographed by @chelsealaurenla
As the conversation around sustainability only grows stronger in fashion circles, Everlane has made a new declaration: it’s saying goodbye to virgin plastic. The company, whose ethos is all about “radical transparency,” in terms of pricing and ethical factories, plans to be completely free of virgin plastics by 2021. “We’re producing millions of units and every unit that goes out is wrapped in plastic,” said founder and CEO, Michael Preysman. “At the beginning, it was like, ‘Hey, let’s just take off all these plastic bags.’ There are a lot of complications to that. Everything you buy in the world comes wrapped in plastic when it comes out of the factory.”
Meet Flamingo. The direct-to-consumer brand is Harry’s first foray into products designed specifically for women. The line goes beyond shaving, venturing into a space that is typically relegated to darker corners of the drugstore — at-home waxing. #wwdbeauty