I doubt you'd see much change, regardless of who ends up controlling who. Each brand has a loyal following, and they're not gonna do anything to upset that. Look to see the well performing stores stay, and with their names and brands intact, for the foreseeable future. jmho.
I bought from George in the old Houston days. And I've made money trading JOSB over the years. MW's current mgt, I'd prefer JOSB taking over.
JoS. A. Bank Clothiers Reports Results for Third Quarter of Fiscal Year 2013
Q3 Adjusted EPS Increases 9%, at Top End of Pre-Announced Range
November Sales Increased in All Channels
HAMPSTEAD, Md., Dec. 5, 2013 (GLOBE NEWSWIRE) -- JoS. A. Bank Clothiers, Inc. (Nasdaq:JOSB) announces that adjusted earnings per diluted share were $0.51 for the third quarter of fiscal 2013, excluding approximately $1.2 million of legal and professional expenses incurred in connection with the Company's acquisition proposal for The Men's Wearhouse, Inc. The third quarter results represent a 9% increase compared to diluted earnings of $0.47 per share for the third quarter of fiscal year 2012 and are at the top end of the projected EPS range previously announced by the Company. GAAP earnings for the third quarter of fiscal year 2013 were $0.49 per diluted share (including the $1.2 million of legal and professional expenses), also at the top end of the previously announced range. GAAP net income for the third quarter of fiscal year 2013 was $13.6 million as compared to net income of $13.3 million for the third quarter of fiscal year 2012.
Total sales for the third quarter of fiscal year 2013 increased 6.3% to $247.5 million from $232.9 million in the third quarter of fiscal year 2012. Comparable store sales decreased 0.1% and Direct Marketing sales increased 23.5% in the third quarter of 2013 as compared to the third quarter of 2012. Combined comparable store and Internet sales for the third quarter of fiscal year 2013 increased 2.4% when compared to the third quarter of fiscal year 2012.
R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated: "Our performance in the third quarter is a strong indication that we are taking the right actions to improve both our top and bottom lines. In particular, the customer is responding well to the changes we are making in the promotional side of our business and our non-promotional business continues to grow strongly. Thi
I want to know how this takeover drama ends. Frankly I'd rather MW come out as the controlling interest since I prefer their stores. Get a lot of my dress shirts there and go for the +$10 on-site tailoring. Can usually find a good tie there too (on a related note, there's something on Kickstarter called the 'Tie Link' that looks pretty interesting).
Not sure how the stocks of either can keep going up though just on deal talk, so once the outcome becomes clear I'd expect a 'sell the news' pullback.
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Jos. A. Bank Clothiers, Inc. (“Jos. A. Bank” or the “Company”) (NASDAQ GS: JOSB) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s receipt of a proposal to be acquired by The Men’s Wearhouse, Inc. (“Men’s Wearhouse”) (NYSE: MW), in a transaction valued at approximately $1.2 billion.
Under the terms of the proposal, public shareholders of Jos. A. Bank would receive $55.00 per share in cash for each share of Jos. A. Bank they own.
The investigation concerns the Jos. A. Bank’s board of directors’ process for consideration of the proposed transaction, whether the Company is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Jos. A. Bank’s shareholders would be fair and adequate.
If you own the common stock of Jos. A. Bank and purchased your shares before November 26, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
November 25, 2013
New York, New York
Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating the proposed acquisition of Jos. A. Bank Clotheirs, Inc. by Men's Wearhouse. The investigation concerns whether the board of directors of JAB will reject the offer of $55 per share offered by MW to acquire JAB.
The investigation further concerns whether the board of directors by potentially rejecting the offer is breaching its fiduciary duties to its shareholders by not accepting or engaging in negotiations with MW so that JAB shareholders will obtain maximum value for their shares. If you are a shareholder of JAB and would like additional information as to this matter and how it may affect your rights as a shareholder, please contact us at 1-877-772-3975 or email at contact @ tripplevy.
Tripp Levy PLLC has extensive experience in mergers and takeover and has assisted in the recovery of millions for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome.
For years I mail ordered shirt because my Catalog Store had 1/2 inch size increments giving me a perfect fit. Is JOSB doing something similar on computer?