Another Retailer IPO in the Offing: Tailored Brands

Six years after going into a COVID-19-induced Chapter 11 bankruptcy filing that was followed by being taken private, Tailored Brands Inc. (Houston) is eyeing going public again. The retailer – which operates stores under the Men’s Wearhouse (687 locales) Jos. A. Bank (181) Moores (107), and K&G Fashion Superstore (81) nameplates – has filed a Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of common stock.

In its coverage of Tailor Brands’ news, Retail Dive noted the company said in its filing that it sees “a clear opportunity across more than 100 key markets,” and is planning to add a fleet of about 250 Men’s Wearhouse locations, 200 Jos. A. Bank locations and 50 K&G locations to its existing footprint.

The number of shares to be sold and the price range for the proposed offering have not yet been determined, the company said in a news release. Tailored Brands is currently controlled by hedge fund Silver Point Capital, which will retain a majority stake in the retailer after the proposed sale.

The company’s S-1 form disclosed that it had net income of $44.9 million in its most recent quarter ended May 2 on revenue of $681.8 million, compared with net income of $50.7 million on revenue of $644.4 million in the same period a year earlier.

Tailored Brands is one of several retailers to signal their intention to return to the stock market in recent weeks, including the Cumberland Farms c-store chain and the Jersey Mike’s sandwich shops.