Item 8.01Other Events.
On May 7, 2020, Tailored Brands, Inc. (the “Company”) announced plans for a phased reopening of Men’s Wearhouse, Jos. A. Bank and K&G stores in accordance with federal, state and local guidelines in the U.S. The Company expects to open approximately 300 stores by Memorial Day, with the first stores opening in Georgia and Texas this week. In addition, the Company is currently reviewing plans to open its Moores Clothing for Men stores in Canada.
New safety procedures have been implemented, including temperature checks for employees, the use of hand sanitizer and masks, and social distancing protocols such as limiting the number of people in the store. To further enhance safety and meet customers’ needs, all three U.S. brands offer contactless payment, and Men’s Wearhouse and Jos. A. Bank stores will also offer new curbside pickup.
This Current Report on Form 8-K contains forward-looking information, including the Company’s statements regarding its ability to reopen stores. Such forward-looking statements include statements relating to our plans for reopening stores. In addition, words such as “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: public health crises, including the recent coronavirus outbreak; actions or inactions by governmental entities; domestic and international macro-economic conditions; inflation or deflation; the loss of, or changes in, key employees; success, or lack thereof, in formulating or executing our internal strategies and operating plans including new store and new market expansion plans; cost reduction initiatives and revenue enhancement strategies; changes to our capital allocation policy; changes in demand for our retail clothing or rental products; market trends in the retail or rental business; customer confidence and spending patterns; changes in traffic trends in our stores; customer acceptance of our merchandise strategies, including custom clothing; performance issues with key suppliers; disruptions in our supply chain; severe weather; 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.
Forward-looking statements are intended to convey the Company’s expectations about the future, and speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by applicable law. However, any further disclosures made on related subjects in our subsequent reports on Forms 10-K, 10-Q and 8-K should be consulted. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all written or oral forward-looking statements that are made by or attributable to us are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.