×
51 770
Fashion Jobs
ADIDAS
Senior Manager Buying (Concept Stores)
Permanent · Portland
NEW BALANCE
Loss Prevention Officer (Day Shift)
Permanent · Skowhegan
L'OREAL GROUP
Mgr/sr Manager-Demand Planner
Permanent · Newport Beach
L'OREAL GROUP
Kiehl's Since 1851 - Director of Ecommerce
Permanent · New York
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Troy, mi
Permanent · Troy
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
OLD NAVY
Assistant General Manager, Merchandising - Bradford Plaza
Permanent · Stillwater
Published
Mar 27, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tailored Brands extends store closures, furloughs all U.S. employees amid Covid-19 outbreak

Published
Mar 27, 2020

Tailored Brands, Inc., parent company of Men's Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G, is extending the temporary closure of its retail stores and furloughing all U.S. store employees, as the Covid-19 pandemic continues to impact the retail world. 


Instagram @menswearhouse


The company's stores will remain closed until at least May 4, 2020. In addition to the U.S. store employees, the company said it will also furlough "a significant portion of employees in its distribution network and offices." 

The company said it will also implement tiered pay cuts for the CEO, executive vice presidents and senior vice presidents, for those who will be working full time during the period.

“Our top priority will always be the wellbeing of our employees, customers and communities, and we will continue to take whatever actions we deem necessary to serve this priority,” said Tailored Brands President and CEO, Dinesh Lathi.

“It was a very difficult decision to furlough employees and one that we did not take lightly; however, this is an important step to ensure the durability of our company and the livelihood it provides for so many. We are working to support our furloughed employees through our continued benefit programs, information about jobs that may be open in their areas and information on government resources. We will continue to monitor the situation carefully and look forward to bringing our employees back to work as soon as possible.”

Lathi and the company's board of directors will be taking a 50% pay reduction during the period.

Tailored Brand's e-commerce fulfillment operations are currently suspended until the company can find a way to restart them in a way that is cash flow positive. However, customers can still place orders online that will be shipped when the fulfillment centers reopen.

The disruption caused by the Covid-19 outbreak comes at an especially inopportune time for the struggling Tailored Brands. Last week, the Fremont, California-based company announced a loss of $34.1 million, or $0.80 per diluted share, for the fourth quarter, as sales fell across the company’s portfolio and charges related to the sale of the Joseph Abboud brand took their toll.  

For the fourth quarter ended February 1, 2020, Tailored Brands’ sales totaled $691 million, down 5.3% from $730 million in the same period year-prior.

The company said it will continue to monitor the virus situation and reopen its facilities upon guidance from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO) and government officials.

Copyright © 2021 FashionNetwork.com All rights reserved.