Filled with significant events and
record-breaking results, 2011 was one of the single-most successful years in our company’s nearly four-decade history.
Every single success outlined in this letter stems from the energy, effort and commitment of Men’s Wearhouse employees. Together, we have fashioned market-leading businesses serving the United States, Canada and the United Kingdom.
Company-wide, total sales for 2011 were $2.4 billion, an increase of 13 percent over 2010, and net earnings increased 78 percent over lastyear, marking the largest growth rate in the company’s history.
CONTINUING TO BUILD BRAND STRENGTH
BEHIND THE SCENES, INTO THE FUTURE
Men’s Wearhouse modern fit styles feature jackets that are tapered at the waist, arms and lapels and pants that are narrowed through the legs. Even the ties get in on the action, measuring ½” - ¾” narrower than in previous years.
New in-store mannequins wear the contemporary styles well, and the style evolution will be supported through television and radio advertising and direct e-mail marketing.
Modern fit sales reached $300 million in 2011 and will continue to be a powerful driver, directly appealing to a younger market segment by offering a more flattering fit and look.
THINKING BIGGER
Our commitment to speaking directly to big and tall customers through radio, television and targeted e-mail campaigns will continue to drive traffic to our doors and to our site. Already, half of all menswearhouse.com web sales can be attributed to our big and tall customers.
LUX-ING THE TUX
Sixty-two percent of people in the continental United States live within easy driving distance —10 miles or less—of one of more than 950 Men’s Wearhouse and Men’s Wearhouse & Tux stores.
In 2011, included in our 25 new store openings were smaller store formats. Our overall tuxedo rental business is now of the size that we can profitably operate in smaller markets than we could without tuxedo rentals, in locations such as Billings, Montana; Rapid City, South Dakota; Idaho Falls, Idaho and Cheyenne, Wyoming.
Smaller format Men’s Wearhouse stores range from 3,000 to 4,500 square feet and $1.0 to $1.5 million in annual sales. By adapting our retail presence to the market, we anticipate growing our number of full-line locations from just over 600 to approximately 750 in the years to come.