Shares of Jos. A. Bank’s parent company are plunging more than 25% after it reported a sales decline and halted its dividend to avoid defaulting on debt. Houston-based Tailored Brands Inc. saw its net sales fall 4% in the second quarter to $789.5 million. Jos. A. Bank’s net sales dropped 3.7% to $166.1 million. On a same-stores basis Hampstead-based Jos. A. Bank’s comparable sales declined 3.3%, primarily due to a decrease in average unit retail price as the men’s retailer had to deal with a more…
from https://www.bizjournals.com/baltimore/news/2019/09/12/jos-a-bank-parents-stock-plunges-amid-sales.html?ana=RSS&s=article_search
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