Tailored Brands, Inc. (NYSE:TLRD) Q4 2016 Earnings Conference Call - Final Transcript

Mar 08, 2017 • 05:00 pm ET


Tailored Brands, Inc. (NYSE:TLRD) Q4 2016 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Tailored Brands' Fiscal 2016 Fourth Quarter and Year-End Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Ms. Julie MacMedan, Vice President of Investor Relations Thank you, Ms. MacMedan, you may now begin.

Julie MacMedan

Thank you, operator, and good afternoon everyone. We appreciate your participation in the Tailored Brands conference call to discuss fiscal 2016 fourth quarter and year-end results. There will be a replay of today's call via webcast on the company's Investor Relations website which is accessible at ir.tailoredbrands.com. Additionally, a recorded telephonic replay will be available until March 15th. The information for accessing this replay feature is in the press release we distributed earlier today.

Please note that information on this call speaks only as of today, March 08, 2017, and therefore you are advised that time-sensitive information may no longer be accurate as of the time of any replay listening or transcript reading. (Forward-Looking Cautionary Statements).

The listener or reader is encouraged to read the company's annual report on Form 10-K and quarterly reports on Form 10-Q to understand these risks and uncertainties. You can access all of these reports on the Tailored Brands' website. Throughout this conference call, management will be discussing results on an adjusted basis, a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures, and our explanation of why the non-GAAP financial measures may be useful are discussed in today's earnings release.

With me today are Doug Ewert, CEO who will review our strategic initiatives and 2016 results and Jack Calandra, CFO who will provide a more in depth review of our financial results and outlook.

I would now like to turn the call over to Doug Ewert, CEO of Tailored Brands. Doug?

Doug Ewert

Thank you, Julie. Today I'll update you on the challenges we're facing in the near term which for those of you who watch retail closely is a familiar theme right now. And the actions we're taking to improve our performance in 2017 and beyond. I want to start by talking about 2016 and '17 in light of what we're building. I'll provide some insight into our view of Tailored Brands and the reasons why in my 23 years here I've never been this inspired and enthused about our future.

For the past three years, we've been doing a lot of heavy lifting, transforming our company into Tailored Brands, a portfolio of brands with distinctive identities that together can best serve the diverse taste, styles and affordability of a broad range of men. We've implemented a large number of changes in talent, organization, process and strategy, achieved many milestones as planned and tackled breakdowns with urgency and determination. We've had to do this while navigating exceptional market forces in very different consumer shopping behaviors that face us and most other retailers.