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Tailored Brands Needs Major Overhaul to Improve Results

Tailored Brands managed to reverse year-ago losses in the fourth quarter, but is still struggling with a serious slowdown in sales, one that is going to require a major transformation to improve.
“This is not business as usual and we are not accepting the status quo,” Dinesh Lathi, executive chairman, said on an analysts’ call Wednesday afternoon.
Lathi said the company needs to change — and quickly — to offer more personalized products and services, a better omnichannel experience and fewer promotions in favor of more “brand stories.”
Lahti was highly critical of former management, saying the company’s issues have “roots in a degree of historical under-investment and [inability to keep] pace with an evolving customer.”
He said the company does “some things well, but we have considerable work to do in order to be considered great. There are examples where we have relied on [our market position] instead of investing to build on our leading position in the category.”
Lahti slipped into the top slot at the company last year upon the retirement of former chief executive officer Doug Ewert. Although a ceo search is ongoing, sources expect Lahti will eventually be named to the position.
In the past six months, Lahti said he has

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Via:: https://wwd.com/menswear-news/mens-retail-business/tailored-brands-needs-major-overhaul-to-improve-results-1203084224/