The parent company of Men's Wearhouse and Jos. A. Bank is preparing to return to the public markets, arguing it has overcome the challenges that drove it into bankruptcy during the pandemic and is now positioned for a major expansion.
New York-based Tailored Brands — also the owner of Moores and K&G Fashion Superstore — said Monday it has publicly filed a registration statement with the Securities and Exchange Commission for an initial public offering. The company has not yet determined the number of shares to be sold or the proposed price range. It plans to trade on the Nasdaq under the ticker symbol "MENW."
Tailored Brands joins a growing list of consumer companies pursuing IPOs this year. Jersey Mike's Subs has filed to go public as it seeks to rapidly expand its restaurant footprint and enter international markets. Convenience store operator Cumberland Farms, women's apparel retailer Reformation and Inspire Brands, the parent of Dunkin', Arby's and Buffalo Wild Wings, have also unveiled plans to tap public investors.
"Since bankruptcy, Tailored Brands has become more disciplined with its financials and has strengthened its proposition. It has a place in the market, especially as many traditional menswear stores have disappeared."
In its filing, Tailored Brands said it has emerged from its 2020 Chapter 11 restructuring as a leaner and more profitable company. The retailer closed more than 400 stores during the bankruptcy process, streamlined its operations and reshaped its leadership team. Today, it operates more than 1,000 stores nationwide and said it is well positioned to capitalize on the continued decline of department stores while pursuing plans to add roughly 500 new locations.
Tailored Brands sees "a clear opportunity across more than 100 key markets, supporting potential expansion of over 500 additional locations over the next 10 years," according to its filing. That includes about 250 Men's Wearhouse locations, 200 Jos. A. Bank stores and 50 K&G locations.
In its near-term pipeline, Tailored Brands is targeting more than 20 new locations in fiscal year 2026, more than 35 in fiscal year 2027 and ramping to more than 50 annually in the near term, according to its filing.
As of May, Tailored Brands operated 1,006 stores across its four banners: Men's Wearhouse with 637 locations, Jos. A. Bank with 181, Moores with 107 and K&G Fashion Superstore with 81. Men's Wearhouse and Jos. A. Bank are headquartered in Houston, while K&G is based in Atlanta and Moores operates out of Toronto.
Increasing sales
Overall, Tailored Brands described itself as a leading retailer and rental provider of menswear, including suits, formalwear and a broad selection of business casual offerings "for milestone events and everyday occasions." It said it is competing in a roughly $76 billion menswear market.
In fiscal 2025, Tailored Brands generated net sales of $2.53 billion, representing a 2.1% increase from fiscal 2024 net sales and a 4.4% compound annual growth rate since fiscal year 2021. Comparable sales growth was 1.9% in fiscal 2025.
Net sales for the three months ended May 2 were $682 million, representing a 5.8% increase from the prior-year period, driven by comparable sales growth of 5.9%.
"We have built a scaled, cash-generative business with a track record of profitable growth and structural margin advantages," Tailored Bands said in its filing.
In terms of its strategy, the company said it has closed underperforming locations, shifted away from a sales-commission model and simplified store layouts to support self-guided shopping, enabling customers to easily find their size.
"Since bankruptcy, Tailored Brands has become more disciplined with its financials and has strengthened its proposition," Neil Saunders, a retail analyst and managing director at GlobalData, said in an email to CoStar News.
'Scope to open more stores'
He added that "it has a place in the market, especially as many traditional menswear stores have disappeared, leaving it as one of the few mass-market menswear options. Because of this there is scope to open more stores which, hopefully, will have a more modern look and feel compared to its older outlets."
Tailored Brands didn't immediately respond to an email from CoStar News seeking a comment on Saunders' remarks.
"Store placement, format and assortment [are] tailored to the specific needs of each local market using customer data, performance insights from comparable locations and AI and machine learning powered analytics."
In its filing, the company said it has benefited from the shift from department stores to specialty retail.
"The contraction in the number of department stores, which declined more than 40% from 2018 to 2023 based on the U.S. Census Bureau Department Stores Survey, has redirected consumer spend toward specialty retailers such as the banners operated by Tailored Brands, which offer curated product assortments, expert staff, a more convenient location and a more personalized shopping experience," Tailored Brands said.
It also noted that over 90% of its stores are located at off-mall sites, "allowing customers to engage with us easily when high-intent needs arise."
Tailored Brands said it's implementing a modernized store design across new Men's Wearhouse and Jos. A. Bank locations as part of its expansion.
"New Men's Wearhouse stores reflect our future store experience, with flexible layouts centered on key product categories such as shirting, dedicated experience areas and an event-focused format that supports one-stop solutions across retail and rental," the company said in its filing.
It added that "new Jos. A. Bank stores are built on an updated concept featuring enhanced design, centralized merchandising of core assortments and a layout that highlights fit, brand and lifestyle in a more elevated and intuitive shopping experience."
It added that it has a "hyperlocal" growth strategy, "with store placement, format and assortment tailored to the specific needs of each local market using customer data, performance insights from comparable locations and AI and machine learning powered analytics."
For the record
Goldman Sachs & Co., Morgan Stanley and Jefferies are acting as lead bookrunning managers for the proposed offering. BofA Securities, Evercore ISI, Guggenheim Securities, Wells Fargo Securities, Baird and Stifel are acting as joint bookrunners. Telsey Advisory Group will serve as a co-manager.