Signs Of Life At Jos. A Bank Send Tailored Brands’ Shares Up 44%

by MR Magazine Staff

Tailored Brands’ shares rose 44 percent on Thursday as signs emerged that its troubled Jos. A. Bank chain was finally snapping its long streak of sales declines. The company, which also owns Men’s Wearhouse and bought Jos. A. Bank two years ago, raised its full-year profit forecast in part because it expects comparable sales at Jos. A. Bank to rise by a mid-to-high single digit percentage in the current holiday quarter. In the third quarter, comparable sales fell 9.8%, a sharp drop to be sure, but far less dramatic than precious declines. Shares rose to $27.19 in late-morning trading. Read more at Fortune.