Jos. A. Bank Clothiers
Jos. A. Bank Clothiers, which told Men's Wearhouse it won't enter buyout talks, has been looking at other acquisitions, including retailer Eddie Bauer, people familiar with the matter said. Jos. A. Bank sent a letter Sunday telling Men's Wearhouse that a $57.50-a-share bid undervalues the company and that managers see no reason to enter negotiations. Meanwhile, Jos. A. Bank has held preliminary talks to acquire outdoor clothing retailer Eddie Bauer, said one of the people, who asked not to be identified because the talks are private.
Men's Wearhouse moved Monday to pin Jos. A. Bank Clothiers in a corner with a hostile $1.6 billion bid for its smaller rival. With the offer of $57.50 cash for each of Hampstead, Md.-based Bank's outstanding shares, Men's Wearhouse is bypassing the retailer's management to appeal directly to shareholders. The so-called hostile takeover bid is the latest volley in the war to control a merger that analysts now see as all but inevitable.
Forget Black Friday. When it comes to selling suits and ties, the appropriate colors are apparently black and blue. Men's Wearhouse, which recently fought off a hostile bid from smaller rival Jos. A. Bank, announced its own $1.5 billion bid for Jos. A Bank this morning. Men's Wearhouse said in a statement that it evaluated a number of alternatives after Jos. A. Bank took its unsolicited offer public on Oct. 9. Men's Wearhouse concluded that an acquisition of Jos. A. Bank made the most sense. Men's Wearhouse is offering $55 a share in cash.
Men's Wearhouse is pursuing a possible purchase of dress-shoe maker Allen Edmonds, according to people familiar with the matter — and Jos. A. Bank Clothiers has a vested interest in the outcome. Such a deal could complicate Jos. A. Bank's own unsolicited — and spurned — bid for Men's Wearhouse. In order to pull off its cash bid for Men's Wearhouse, an offer valued at $2.3 billion, Jos. A. Bank would need to raise a significant amount of debt.
Men's Wearhouse rejected an unsolicited $2.3 billion takeover bid by Jos. A. Bank Clothiers on Wednesday, calling the proposed deal "highly opportunistic" and likely to draw antitrust scrutiny. Jos. A. Bank proposed paying $48 a share in cash for Men's Wearhouse, 36 percent above its closing stock price on Tuesday. But the Men's Wearhouse board said the bid undervalued the company and wasn't in the best interests of shareholders.
Hampstead, Md. -- JoS. A. Bank Clothiers said that net income for the third quarter of fiscal year 2011, ended Oct. 29, 2011, increased 19.3% to $15.0 million verses $12.6 million in the year-ago period. However, the chain warned that its forth quarter has started out more slowly than expected, and that it has adjusted its December merchandising and marketing plans for the stores. Total sales increased 21.0% to $209.6 million, from $173.3 million. Same-store sales rose 14.6% and direct marketing sales increased 28.6%. “With this quarter's results, we have achieved earnings growth in 40 of the past 41
Jos. A. Bank Clothiers is teaming up with wedding and bridesmaid dressmaker and retailer Alfred Angelo. Catalogs of Jos. A. Bank's tuxedos and matching accessories will be available at Alfred Angelo Signature’s bridal stores, while Alfred Angelo will be the exclusive wedding-gown partner for the women in Jos. A. Bank's customers' lives.
Inventory flexibility is the best way to maximize sales in today’s economy. But many challenges prevent marketers with both direct fulfillment centers and retail stores from maximizing the inventory they have. E-commerce, catalog and retail have different planning methods and accuracy issues. It’s one thing to get the size distribution right for a region and store, but it’s another to plan for the way colors sell.
This month, we bring you the second in our exclusive quarterly reporting of Abacus Consumer Co-op data, the Quarterly Catalog Success/Abacus Consumer Co-op Data Report.