Tailored Brands, a US-based menswear retailers Men's Wearhouse, reported 60.4 per cent sales decline to $286.7 million in its first quarter (Q1) FY20 that ended on May 2, 2020, compared to the sales of $724.6 million in same period last year. Company incurred a net loss during the quarter of $269.8 million compared to net earnings of $7.1 million in Q1 FY19.
Tailored Brands, a US-based menswear retailers Men's Wearhouse, reported 60.4 per cent sales decline to $286.7 million in its first quarter (Q1) FY20 that ended on May 2, 2020, compared to the sales of $724.6 million in same period last year. Company incurred a net loss during the quarter of $269.8 million compared to net earnings of $7.1 million in Q1 FY19.#
Company’s total gross margin decreased 90.3 per cent to $29.7 million ($304.9 million). Selling, general and administrative expenses fell 33.3 per cent to $154.0 million. Tailored Brands reported operating loss of $258.7 million compared to operating profit of $29.0 million in Q1 FY19.
Tailored Brands, a US-based menswear retailers Men's Wearhouse, reported 60.4 per cent sales decline to $286.7 million in its first quarter (Q1) FY20 that ended on May 2, 2020, compared to the sales of $724.6 million in same period last year. Company incurred a net loss during the quarter of $269.8 million compared to net earnings of $7.1 million in Q1 FY19.#
Retail clothing product sales during Q1 FY20 decreased to $249.1 million ($594.8 million). While rental services dropped to $22.2 million ($93.8 million).
ALCHEMPro News Desk (JL)
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