Reports that Men's Wearhouse was opening a Women's Wearhouse weren't on the button after all. In fact, Men's Wearhouse CEO George Zimmer said in the Wall Street Journal they were downright "inaccurate." "We are not opening up a chain of women's wear stores," he said. In correcting an original story by the New York Post and chased by the Journal citing anonymous insiders, the company declared Wednesday night it had already moved too swiftly in expanding female apparel at its bargain branch of K&G stores, saying sales fell below expectations.
Men's Wearhouse executives didn't skirt the issue in a conference call to investors, sounding "downbeat" in their forecast for a stronger female presence in the chain, according to the Journal.
Men's Wearhouse, the business clothier known for its commercials in which Zimmer declares, "You're going to like the way you look," recently launched commercials departing from their traditional spiel to attract an untapped base of potential customers, an executive said to stakeholders.
But it appears the chain will not be tailoring a new confederation of stores to women anytime soon. As Zimmer often concludes in his ads, "I guarantee it."
Why do investors make the decisions that they do?View Course »