March 26, 2020 / 11:15 AM / 11 days ago

BRIEF-Tailored Brands Provides Third COVID-19 Update

March 26 (Reuters) - Tailored Brands Inc:

* TAILORED BRANDS PROVIDES THIRD COVID-19 UPDATE

* TAILORED BRANDS INC - COMPANY WILL EXTEND TEMPORARY CLOSURE OF ITS RETAIL STORES UNTIL AT LEAST MAY 4, 2020.

* TAILORED BRANDS INC - WOULD IMPLEMENT ADDITIONAL COST REDUCTIONS

* TAILORED BRANDS INC - FURLOUGHING ALL U.S. STORE EMPLOYEES AS WELL AS A SIGNIFICANT PORTION OF EMPLOYEES IN ITS DISTRIBUTION NETWORK AND OFFICES

* TAILORED BRANDS - TO IMPLEMENT TIERED PAY CUTS FOR CEO, EXECUTIVE VPS, SENIOR VPS, FOR THOSE WHO WILL BE WORKING FULL TIME DURING PERIOD

* TAILORED BRANDS INC - DINESH LATHI AND BOARD WILL BE TAKING A 50 PERCENT PAY REDUCTION DURING PERIOD

* TAILORED BRANDS INC - IS REVIEWING IF IT CAN RESTART E-COMMERCE FULFILLMENT OPERATIONS IN A WAY THAT PROTECTS EMPLOYEE HEALTH AND IS CASH FLOW POSITIVE

* TAILORED BRANDS INC - CUSTOMERS MAY CONTINUE TO PLACE ORDERS ONLINE TO BE SHIPPED AS SOON AS FULFILLMENT CENTERS REOPEN Source text for Eikon: Further company coverage:

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