Reorg.com | 05/26/2022
Tailored Brands’ fourth-quarter revenue rose 96.5% to $557.6 million as demand for tuxedo rentals for weddings continues to be strong, according to sources. Adjusted EBITDA swung to positive $50.9 million from negative $123.1 million for the fourth quarter of 2020, said the sources.
The retailer burned $14.5 million of cash during the quarter, including $7.6 million of cash used in operations and $6.9 million spent on capital expenditures, the sources said, adding that the company used cash to buy inventory and run operations. Total cash at quarter-end stood at $67.3 million.
In an emailed statement to Reorg, Tailored Brands said the fourth-quarter results reflect the continued sequential acceleration of its business strategy and results. “Our business is stronger, more agile and financially healthier than it was prior to the pandemic,” the company said.