Jos A Bank Q4'13 net sales increase 4%

15 Feb '14

4 min read

That said, we are realizing the benefits of the new promotional marketing strategies we have implemented, which resulted in continued improvement in our marketing efficiency again in the fourth quarter. Additionally, the non-promotional portion of our business continues to perform well, with ongoing increases in sales."

Mr. Black concluded, "Looking ahead, we are focused on continuing to improve our sales trend and returning to our peak levels of profit performance. We feel confident that the strategies we have in place to drive this growth over the near and longer term will enable us to achieve these goals."

The Company noted that actual results for the fourth quarter of fiscal 2013 will depend on, among other things, adjustments that may arise from the normal quarter-end processing.

In a separate press release issued this morning, Jos. A. Bank announced that it has signed a definitive agreement to acquire Everest Holdings LLC, parent company of the Eddie Bauer brand, a transaction that will enable the Company to drive significant growth and value creation.

In conjunction with the transaction, the Company also announced that it will promptly commence a self-tender offer to acquire up to 4.6 million of its common shares, or 16.4% of its outstanding shares, at a price of $65 per share, or an aggregate of up to $300 million. The self-tender offer is conditioned on, and would close promptly following completion of, the Eddie Bauer acquisition.

Jos. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading designers, manufacturers and retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories.

Jos A Bank

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