K&G

0 statements across 0 episodes · 2 bullish · 2 bearish · 1 people on the record · first statement Apr 15, 2019 by George Zimmer · across every show →

Everything said about K&G, oldest first

Apr 15, 2019
Assertion Not checkable as stated
Zimmer offered $90 million to buy back K&G after his firing
“Because after I was fired, The first thing I tried to do was buy K&G from Men's... For ninety million dollars.”
George Zimmer Apr 15, 2019 ▶ 51:26 Men's Wearhouse: George Zimmer
Apr 15, 2019 positive
Assertion Contradicted
Flanker brand K&G enabled Men's Wearhouse to raise gross margins 10%
“K&G provides a unique opportunity for an offensive and defensive strategy, and they didn't quite understand what that meant, and so what it means is men's warehouse stores were able to raise the gross profit percentage of By a full 10%, which is a thousand bas…”
George Zimmer Apr 15, 2019 ▶ 40:46 Men's Wearhouse: George Zimmer
Aug 29, 2022 neutral
Assertion Supported
Zimmer: K&G division generated $400 million across 100 stores
“We owned a division called K&G, and K&G did four hundred million. We had a hundred stores, and it was a super store in the sense that it was 25,000 feet, and it was men's and women's, and the price points were below men's warehouse.”
George Zimmer Aug 29, 2022 ▶ 41:46 Men's Wearhouse: George Zimmer (2019)
Aug 29, 2022 negative
Assertion Not checkable as stated
Zimmer: No buyer has offered half of my $90M bid for K&G
“To this day, they still can't find anybody that would offer them Half of what I was going to pay them.”
George Zimmer Aug 29, 2022 ▶ 53:49 Men's Wearhouse: George Zimmer (2019)
Aug 29, 2022 positive
Assertion Not checkable as stated
Zimmer: K&G helped Men's Wearhouse raise gross margin by 1,000 bps
“Men's warehouse stores were able to raise the gross profit percentage by a full 10%, which is a thousand basis points over a decade, because K&G was protecting our opening price point position.”
George Zimmer Aug 29, 2022 ▶ 42:09 Men's Wearhouse: George Zimmer (2019)
Aug 29, 2022 negative
Assertion Not checkable as stated
Zimmer: Men's Wearhouse blocked K&G sale over four-year non-solicit demand
“Well, at first, they wouldn't sell it to me at all. Then they said, alright, If you give us a four year non-solicitation. And I said, what do you mean by that? And they said, you can't hire our employees for four years. And I said, are you kidding? I'll give y…”
George Zimmer Aug 29, 2022 ▶ 53:23 Men's Wearhouse: George Zimmer (2019)
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