Men’s Wearhouse to augment growth with new name

First Google became Alphabet and now Men’s Wearhouse is following suit by creating a new holding company structure under the name Tailored Brands, a corporate identity that hints at growth aspirations beyond the male demographic.

The company said effective Jan. 31, it would become known as Tailored Brands, Inc., when it implements the new holding company structure. The company’s ticker symbol will change to TLRD from MW when trading begins on Feb. 1, but other than that the company’s board will remain the same and shareholders will receive the same number of shares in the new holding company that they currently hold in Men’s Wearhouse.

"We believe the holding company structure will allow us to support, nurture and augment our family of brands as we further leverage our shared services platform,” said Men’s Wearhouse CEO Doug Ewert.

The company’s choice of a non-gender specific name for the holding company and Ewert’s reference to augmenting the company’s family of brands are noteworthy and hint at growth possibilities outside of the traditional menswear category. Men’s Wearhouse is the nation’s largest specialty retailer of men’s suits and tuxedo rental, operating 1,748 stores including tuxedo shops within Macy's stores under banners such as The Men's Wearhouse, Jos. A. Bank, K&G and Moores. The company acquired Jos. A. Bank in mid-2014 but the deal has not worked out as planned. Profitability has suffered and shares tanked as Men’s Wearhouse’s efforts to reduce the level of promotional activity at the acquired stores led to steep sales declines.

Men's Wearhouse is scheduled to provide a fourth quarter 2015 update on Feb. 16, by which time it will be known as Tailored Brands.