Headlines

Jos. Bank Looking to Buy

Retailer retains investment banker

Published

11 years ago

June 24, 2013

steve kaufman

Jos. A. Bank Clothiers Inc. (Hampstead, Md.) has confirmed that it is looking for an acquisition. According to Bloomberg News, the company has retained Financo LLC, a New York-based investment bank specializing in the consumer industry.

The apparel retailer said it plans to focus growth of its core businesses “through internal initiatives” such as opening stores and enhancing its Internet sites.

One of its targets could be Men’s Wearhouse Inc. (Houston), which last week fired founder George Zimmer. That possibility is being talked up by Donald Hodges, founder of Hodges Capital Management Inc., which owns Jos. A. Bank shares and whose firm has about $1.1 billion under management.

“That would be a great acquisition for them,” Hodges said in a phone interview. “Men’s Wearhouse more and more has copied the Jos. A. Bank formula for running discounts and sales. The board just released the founder, and there must be something behind that.”

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