Tailored Brands Appoints Chief Financial Officer
FREMONT, Calif.--(BUSINESS WIRE)-- Tailored Brands, Inc. (the “Company”) today announced the appointment of Brandy Richardson as its Chief Financial Officer (CFO), effective November 8, 2021. Ms. Richardson joins Tailored Brands with more than 20 years of experience in finance, business transformation, strategic planning and execution, capital allocation, investor relations, process improvement and technical accounting. Brandy is well known as a progressive leader who builds and inspires winning teams to accelerate business performance. She will serve on the Company’s Executive Committee and have responsibility for Enterprise Analytics, Strategy, Real Estate, Risk Management and Loss Prevention, as well as all aspects of the Finance organization.
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Brandy Richardson, CFO of Tailored Brands (Photo: Business Wire)
“Brandy joins us at a time when we are well-positioned to accelerate our business strategies, delivering for our customers and positioning each of our brands—and the teams that support them—for long-term success,” said Bob Hull, interim co-CEO of Tailored Brands. “Brandy brings a wealth of knowledge and experience in managing a portfolio of companies, increasing liquidity, improving capital allocation and driving value creation. Our leadership team and Board of Directors are confident that her forward-thinking leadership is the right fit at the right time.”
Peter Sachse, interim co-CEO of Tailored Brands, added, “The experience Brandy brings from her roles in strategy and finance will provide a comprehensive perspective as we continue to navigate the ever-changing retail environment and show up strong for our customers in all the moments that matter. We are excited to have Brandy join our leadership team as we determine innovative ways to execute against our strategic priorities and further our success.”
Ms. Richardson recently served as the Executive Vice President and CFO at Neiman Marcus Group, playing a pivotal role in their Chapter 11 restructuring and in refinancing their exit debt facilities. Across her 15-year tenure with the company, she served in roles of increasing leadership and responsibility, including as Senior Vice President and Chief Accounting Officer as well as Vice President and Controller. While with the company, she also served as Vice President of Finance for the Marketing and Creative organization, which further enriched her unique point of view. Prior to joining Neiman Marcus Group, Ms. Richardson held internal business and consulting roles with Cardinal Health, a medical equipment manufacturer, and Ernst & Young LLP. Through these roles, Ms. Richardson has developed deep experience in collaborating with leadership teams to execute enhanced omnichannel strategies that improve the customer experience and drive growth.
“I’m thrilled to join Tailored Brands at such a pivotal inflection point in the Company’s journey. This talented team has effectively navigated a number of challenges and, today, is well-positioned to capture the opportunities that lie ahead. I look forward to jumping in to support the Company’s ongoing efforts to advance strategic priorities and unlock value,” Ms. Richardson stated.
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 and K&G Fashion Superstore.
This press release contains forward-looking information, including the Company’s statements regarding its strengthened capital structure and the Company’s ability to execute on its strategic initiatives. In addition, words such as “will,” “expects,” “anticipates,” “envisions,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance,” “may,” “projections,” and “business outlook,” 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 we make 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 Company’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 Company’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.
Source: Tailored Brands, Inc.
Released October 19, 2021