June 24, 2013, 10:46 AM

Apparel retailer JoS A. Bank is seeking a buyer

The retailer has set no timetable for a deal.

Lead Photo

JoS. A. Bank Clothiers has set no timeframe for when it has to find a buyer.

JoS. A. Bank Clothiers Inc. is looking for a potential buyer, the company recently announced. It has set no timetable for completing a deal.

Men’s clothing retailer JoS. A. Bank, No. 191 in the Internet Retailer Top 500 Guide, had $109 million in e-commerce sales in 2012, representing 10.9% of overall sales, which totaled $1 billion. The direct channel was responsible for around 31.6% of the company’s growth in 2012, Internet Retailer estimates.

The retailer says its aim is to maximize shareholder value. “We have built an extraordinarily strong balance sheet with substantial liquid assets and no bank debt,” says Andrew Giordano, lead independent director on the board. “Our pursuit of strategic opportunities is part of our philosophy of long-term planning and decision-making.”

In addition to its e-commerce site JoS. A. Bank Clothiers operates 607 stores in 44 states and the District of Columbia.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Tony DiCostanzo / B2B E-Commerce

B2B e-commerce in a B2C world

Companies that sell online to other companies can learn a lot from looking at the ...

FPO

Vebeka Guess / E-Commerce

Three online shopping trends to note this holiday season

Lessons from the 2013 holiday season point the way for effective marketing tactics in the ...

Advertisement