Covid-19 Blamed for Closings, Layoffs at Men’s Clothing Chains
When you are stuck at home and quarantining, apparently, guys don't care if they like the way they look.
Men's Wearhouse and Jos. A. Bank announced Tuesday they are closing hundreds of stores due to the coronavirus outbreak.
Men's Wearhouse, with their slogan, "You're going to like the way you look. I guarantee it", has a location in Consumer Square, Mays Landing. The company did not disclose which stores would shutter and said the closures would occur "over time."
Tailored Brands, which owns both, has identified 500 stores for closures and said it's cutting 20% of its corporate positions.
The move comes as sales at both have dropped dramatically.
For the week ended June 5th, sales at locations open for at least one week fell 65% at Men's Wearhouse and were down 78% at Jos. A. Bank.