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CEO Talks: Tailored Brands’ Doug Ewert and His Unwavering Focus

It was a David-and-Goliath-type of situation when the Men’s Wearhouse was negotiating to buy its archrival Jos. A. Bank a little more than four years ago. There was a back-and-forth bidding war between the competitors and ultimately, the larger Men’s Wearhouse walked away victorious. But be careful what you wish for. While the merger created the largest men’s specialty store chain in the U.S., the $1.8 billion acquisition added a hefty amount of debt to Men’s Wearhouse’s balance sheet and the Bank business was in worse shape than its acquirer realized. The promotional strategy it used to drive sales — buy-one-get-one, two, three or even seven, free — was unsustainable. For two years, chief executive officer Doug Ewert took heat from Wall Street as he worked tirelessly to turn the Bank business around. Today, the newly named Tailored Brands Inc. has turned the corner, quadrupling profits in 2017 and posting comparable-store sales gains at its flagship Men’s Wearhouse and the Jos. A. Bank division. Here, Ewert discusses the challenging journey to prosperity, the outlook for both businesses as well as its Joseph Abboud brand, its Moores division in Canada, the K&G superstore concept, and the outsized growth the company is experiencing in custom clothing. WWD:

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