In its second-largest acquisition, Amazon buys the company for $970 million.
Web-based sales at Jos. A. Bank grew 94.5% in November compared to November last year. Companywide sales grew 6.6% while comparable store sales fell.
Jos. A. Bank Clothiers Inc. continues to demonstrate that consumers will buy tailored clothes online. Web-based sales at Bank grew 94.5% in November compared to November last year, the company reported today. It is part of a steady string of higher web sales as comparable store sales decline (5.5% in November) and catalog sales grow slowly (4.5% in November).
Hampstead, MD-based Bank reported today that November sales companywide increased 6.6% to $22.2 million compared to $20.9 million in 2000.
“We continue to experience an active migration of sales back and forth among our three channels of distribution which affords our customers the advantage of shopping by the method that is most convenient to them," Robert N. Wildrick, CEO, said.