Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Jos. A. Bank closing dozens of locations
Jos. A. Bank closing dozens of locations
By Jeff Clabaugh | @wtopclabaugh
March 10, 2016 11:29 am
WASHINGTON — Men’s Wearhouse, which dropped Jos. A. Bank’s famous “buy one, get (inset number) free” sales shortly after acquiring it, miscalculated the impact of that move.
After an exodus of customers and falling sales, the parent company of both suit and tie chains says it is closing 80 to 90 Jos. A. Bank stores and shuttering every Jos. A. Bank outlet.
Parent company, Tailored Brands, has brought back some “buy one” sales to Jos. A. Bank stores, but its sales still fell almost 32 percent last quarter. ... “We remain very disappointed by the weak Jos. A. Bank results,” said Tailored Brands Chief Executive Doug Ewert in a statement. “Our transition away from unsustainable promotions have proven significantly more difficult and expensive than we expected.”
The company will also close all of its Men’s Wearhouse outlet stores. It says the outlet stores were not profitable.
By Jeff Clabaugh | @wtopclabaugh
March 10, 2016 11:29 am
WASHINGTON — Men’s Wearhouse, which dropped Jos. A. Bank’s famous “buy one, get (inset number) free” sales shortly after acquiring it, miscalculated the impact of that move.
After an exodus of customers and falling sales, the parent company of both suit and tie chains says it is closing 80 to 90 Jos. A. Bank stores and shuttering every Jos. A. Bank outlet.
Parent company, Tailored Brands, has brought back some “buy one” sales to Jos. A. Bank stores, but its sales still fell almost 32 percent last quarter. ... “We remain very disappointed by the weak Jos. A. Bank results,” said Tailored Brands Chief Executive Doug Ewert in a statement. “Our transition away from unsustainable promotions have proven significantly more difficult and expensive than we expected.”
The company will also close all of its Men’s Wearhouse outlet stores. It says the outlet stores were not profitable.
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
