The Men's Wearhouse Q3 2008 Earnings Call Transcript

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2008-11-19 18:42:13.0

Tags: Call Transcript, Earnings, Store, Purchasing & Procurement, Business Operations, Seeking Alpha, Call Transcript, Earnings, Store, Purchasing & Procurement, Business Operations, Seeking Alpha, Men's Wearhouse Inc.

Question-and-Answer Session

Operator

(Operator Instructions) Our first question is from the line of Richard Jaffe with Stifel Nicolaus. Please go ahead.

Richard Jaffe - Stifel Nicolaus

Thanks very much. Great defense, guys, in a very challenging environment, no question about it. George, I was intrigued by your comments about the millennial initiative, you know, attracting and serving this younger customer. Obviously in picking out, picking up, and returning his tuxedo, you talked about a more casual and a more youthful assortment in -- I think you said all stores, 500 Men's Wearhouse stores and 500 After Hours stores. I was wondering what the time out of this implementation might be and if it might be quarter by quarter, a few stores and then more or should we look for this for Christmas? If you could give us some detail, that would be great.

George A. Zimmer

Sure. We’re -- you know, it takes quite a while to roll something out into 1,000 stores, so basically it’s beginning now and will go all of 2009 before it’s complete. And we are beginning with Men's Wearhouse stores before MW Tux stores, but we are testing various stores around the country so you might see something some place that was other than what I have said.

There are some products in our stores right now but there will be more in the Men's Wearhouse stores in the spring.

Richard Jaffe - Stifel Nicolaus

Okay, and so really we should look at the end of ’09 as a full implementation, this time next year?

George A. Zimmer

Yeah, I think to get a full year’s number, you will have to look at in 2010, that 2009 will be the growing year but I’m real excited. I’m actually wearing the product myself and I’m going to be 60 in two days. It makes me feel like I’m 20 again.

Richard Jaffe - Stifel Nicolaus

I would love a picture of that, George.

George A. Zimmer

I’ll send you one.

Richard Jaffe - Stifel Nicolaus

Thanks. Thanks a lot, guys. Good luck.

Operator

Your next question is from the line of Betty Chen with Wedbush Morgan.

Betty Chen - Wedbush Morgan

Thank you. Good afternoon, everyone. Just to follow-up on that earlier question, George, could you tell us a little bit about the product? Is it a combination of private label and branded merchandise, just like the tailor business? Or what is the procurement of the merchandise in the new format?

 

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