NEW YORK, Feb. 26, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Tailored Brands, Inc. ("Tailored Brands" or "the Company") (NASDAQ: TLRD), formerly known as The Men's Wearhouse, Inc (NYSE: MW). Such investors are advised to contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz at email@example.com or 212-697-6484.
This investigation concerns whether Tailored Brands and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the "Exchange Act").
Tailored Brands, Inc., is a Texas corporation that operates as a specialty apparel retailer in the United States, Puerto Rico, and Canada. On January 31, 2016, Tailored Brands became the holding company of Men's Wearhouse.
On June 18, 2014, Tailored Brands broadcasted the completion of its acquisition of Jos. A. Bank Clothiers, Inc. for $65.00 per share. Doug Ewert, President and Chief Executed Office of Tailored Brands (at the time known by its former name, The Men's Wearhouse, Inc.), hyped the collaborations and benefits of its acquisition and called the newly combined enterprise "a truly great company for all of our stakeholders." Following this announcement and on that day, the Company closed at $55.86 per share.
On November 5, 2015 post market, the Company released its initial third quarter results with an updated fiscal year 2015 outlook. Shareholders were told that there "were significant comparable sales weakness at Jos. A. Bank. During the third quarter comparable sales decreased 14.6% at Jos. A. Bank, far below the Company's earlier expectations. This decrease was primarily driven by a decline in traffic as the Company began the transition away from the Buy-One-Get-Three promotional events."
The Company's fourth quarter, which should have been busier during Holiday season, expected sales at Jos. A. Bank to be down between 20 – 25% compared to the prior year's fourth quarter. When this news entered the market, Tailored Brands, Inc. stock (known as The Men's Wearhouse, Inc. at the time), collapsed $19.40 per share, or 48%, to close at $22.70 per share on extremely high volume.
On December 9, 2015, post market, the Company released its third quarter earnings, which were even more disappointing than its previously expectations. Furthermore, Jos. A. Bank same-store sales in the fourth quarter was down about 35%. Following this news, Tailored Brands, Inc. stock (known as The Men's Wearhouse, Inc. at the time), fell an additional $3.30 per share to close at $15.27.
If you are aware of any facts relating to this investigation, or purchased shares of Tailored Brands, Inc., you can assist this investigation by visiting the firm's website: http://www.bgandg.com/#!tlrd/kj89p. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | email@example.com
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