July 10 (Reuters) - Fashion retailer Tailored Brands on Friday reported a rise in quarterly revenue in its U.S. initial public offering filing.
The Houston, Texas-based retailer posted net profit of $44.9 million on revenue of $681.8 million for the three months ended May 2, compared with net profit of $50.7 million on revenue of $644.4 million a year earlier.
The number of shares to be offered and the price range for the proposed offering have not yet been determined.
The listing comes as the U.S.
IPO market has benefited from stronger equity markets, improving valuations and demand for AI capital.
Consumer IPOs in general have also picked up pace after U.S. President Donald Trump's sweeping tariffs dampened activity last year. Womenswear retailer Reformation also filed for an IPO last month.
Tailored Brands is a specialty retailer of menswear, including suits, formal wear and business casual offerings. The company operates more than 1,000 stores in North America.
Its brands include menswear retailers Men's Wearhouse, Jos. A. Bank, and Moores as well as family retailer K&G Fashion Superstore.
The company had filed for bankruptcy in 2020 after being hit by the coronavirus crisis but has turn around its situation since then. It had confidentially filed for an initial public offering back in April.
Following the bankruptcy, hedge fund Silver Point Capital acquired a significant stake in the company and will remain the controlling shareholder after the IPO.
It plans to use the proceeds for paying debts, general corporate purposes, including working capital, operating expenses and capital expenditures.
Goldman Sachs, Morgan Stanley and Jefferies are among the underwriters for the offering. It intends to list its shares on the Nasdaq under the symbol "MENW".
(Reporting by Pragyan Kalita in Bengaluru; Editing by Maju Samuel)
