Tailored Brands Announces Leadership Appointments
FREMONT, Calif.–(BUSINESS WIRE)–Tailored Brands, Inc. (the â€œCompanyâ€) today announced the appointment of three retail veterans to its leadership team. John Tighe has been appointed Executive Vice President (EVP) and Chief Customer Officer, Karla Gray has assumed the role of EVP and Chief Stores Officer, and Tim Cooksey has joined the organization as Senior Vice President (SVP) of Real Estate. Mr. Tighe, Ms. Gray and Mr. Cooksey each bring decades of retail experience and proven results that will help Tailored Brands continue to execute on its strategic plans.
â€œWe are thrilled to welcome John, Karla and Tim to the Tailored Brands teamâ€”especially at a moment when we are seeing such positive momentum in our business and are poised for growth,â€ said Peter Sachse, interim co-CEO of Tailored Brands. â€œOur continued success depends on our ability to deeply understand our customersâ€™ needs and preferences, so we can show up strong where and how they need us, in all the moments that matter. We are confident the appointment of these three distinguished leaders will allow us to fulfill this promise, accelerate our strategies and achieve our full potential.â€
Bob Hull, interim co-CEO of Tailored Brands, added, â€œThe experience these three leaders bring to the business will further accelerate our success â€“ particularly when combined with their energy, commitment and strong focus on developing high-performing teams. We are building a world-class team at Tailored Brands, and I am extremely excited about the addition of these exceptional leaders to our existing talented team.â€
Mr. Tighe joins Tailored Brands with a strong track record of delivering top- and bottom-line growth as well as extensive brand-building, marketing, e-commerce and merchandising experience. He most recently served as President of Peerless Clothing, the largest manufacturer of men’s and boys’ tailored clothing in North America, where he led the team to deliver strong results and helped Peerless successfully navigate recent tough times. Prior to Peerless, Mr. Tigheâ€™s extensive merchandising and marketing experience led to his appointment to various leadership positions at JCPenney, most recently as Chief Merchant and EVP. Mr. Tighe began his career at May Department Stores Company.
â€œI have long admired Tailored Brands and am delighted to come aboard at such an important moment in the Companyâ€™s history because I believe this team has successfully weathered the worst of the pandemic and come out stronger,â€ Mr. Tighe stated. â€œWe have four powerful brands that are beloved by their customers, and I take seriously my responsibility to build upon that legacyâ€”and the significant progress that has already been madeâ€”to bring our customers the merchandise assortments, innovative in-store and online experiences, and enhanced omnichannel options they want and deserve.â€
Ms. Gray has three decades of retail experience and a proven track record leading and transforming direct-to-consumer businesses. In her 16 years at Nike, she had the opportunity to work around the globe, leading large teams through periods of exponential growth. She led Global Retail Operations, was the General Manager for Direct Retail in Asia-Pacific and Latin America, and most recently was the Vice President and General Manager of the North America Nike Factory Store business. Prior to Nike, Ms. Gray spent 14 years at Gap Inc., where she started her career in stores and developed her lasting passion for the consumer and employee experience.
Ms. Gray said, â€œDelivering a differentiated experience for omnichannel consumers and the teams who serve them has long been my passion â€“ and I believe it is a passion shared by this entire Tailored Brands team. I see tremendous opportunities to build upon the success of these brands and look forward to working with this talented team to unlock their full potential with a continued focus on providing legendary service, selection, convenience and value. I have been amazed by the energy of everyone Iâ€™ve met and am confident we will achieve our goals.â€
Mr. Cooksey, who will manage the real estate portfolio and oversee store development, maintenance and facilities, has more than three decades of experience in real estate, lease administration, facility and construction management. He comes to Tailored Brands following 15 years at Loweâ€™s, where he most recently served as SVP of Real Estate and Enterprise Strategic Sourcing. Prior to his tenure at Loweâ€™s, Mr. Cooksey spent 19 years at US Airways in various leadership roles in facility management and real estate.
Mr. Cooksey stated, â€œTailored Brands has already done significant work to strengthen its real estate portfolio and develop a strong Store Development, Maintenance & Facilities team to support ongoing store operations in ways that best support the future of the business and the needs of our customers. My goal is to strengthen relationships with our landlords and work collaboratively on ways to create mutual value through Tailored Brands lease strategy. I look forward to working with the existing Tailored Brands teams and our valued landlords and vendor partners on this strategy.â€
About Tailored Brands, Inc.
Tailored Brands is a leading omnichannel specialty retailer of menswear, including suits, formalwear and a broad selection of business casual offerings. We help our customers look and feel their best by delivering personalized products and services through our convenient network of stores and e-commerce sites. Our brands include Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G Fashion Superstore.
This press release contains forward-looking information, including the Companyâ€™s statements regarding its strengthened capital structure and the Companyâ€™s ability to execute on its strategic initiatives. In addition, words such as â€œwill,â€ â€œexpects,â€ â€œanticipates,â€ â€œenvisions,â€ â€œtargets,â€ â€œgoals,â€ â€œprojects,â€ â€œintends,â€ â€œplans,â€ â€œbelieves,â€ â€œseeks,â€ â€œestimates,â€ â€œguidance,â€ â€œmay,â€ â€œprojections,â€ and â€œbusiness outlook,â€ variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements that the Company makes herein are not guarantees of future performance and actual results may differ materially from those in such forward-looking statements as a result of various factors. Factors that might cause or contribute to such differences include, but are not limited to: risks related to the effectiveness of the restructuring and strategic activities completed during and subsequent to the Companyâ€™s Chapter 11 process and any additional strategies that the Company may employ to address its business, including its liquidity and capital resources; the effects of the COVID-19 pandemic and uncertainties about its depth and duration, including the health and well-being of our employees and customers, temporary or permanent store closures and our ability to attract customers to reopened stores, re-emergence or additional periods of increases or spikes in the number of COVID-19 cases, the availability, acceptance and rate of vaccinations and other medical treatments, increases in the unemployment rate and recessionary pressures, furlough or temporary layoffs of our employees and our ability to reinstate, incentivize and retain previously furloughed employees, social distancing measures and changes in consumer spending behaviors; actions or inactions by governmental entities; domestic and international macroeconomic conditions; inflation or deflation; the Companyâ€™s ability to attract, motivate and retain key personnel and effectively manage succession; success, or lack thereof, in formulating or executing our internal strategies and operating plans; cost reduction initiatives and revenue enhancement strategies; changes in demand for our retail clothing or rental products, including changes in apparel trends and changing consumer preferences; market trends in the retail or rental business; customer confidence and spending patterns; changes in traffic trends in our stores and in customer preferences in the omnichannel experience; customer acceptance of our merchandise strategies, including custom clothing and polished casual attire; performance issues with key suppliers; disruptions in our supply chain; trade relations; severe weather; regional or national civil unrest or acts of civil disobedience; public health crises, including COVID-19; foreign currency fluctuations; government export and import policies, including the enactment of duties or tariffs; advertising or marketing activities of competitors; the impact of cybersecurity threats or data breaches; legal proceedings and the impact of climate change.
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