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News Summary: Men's Wearhouse ousts founder

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The Associated Press | June 19, 2013 06:04 PM EST | AP


THE NEWS: Men's Wearhouse Inc. says Wednesday it dismissed its founder and executive chairman George Zimmer, who appeared in many of its TV commercials with the slogan, "You're going to like the way you look. I guarantee it."

BEHIND THE OUSTING: Men's Wearhouse declined to give a reason for the ousting, but Zimmer shot back, saying the firing was due to a disagreement about the company's direction.

WHAT'S NEXT: Men's Wearhouse says it expects to discuss with Zimmer the extent, if any, and terms of "his ongoing relationship" with the retailer.