Consumer Affairs & Relations

Fremont, Calif. – The Men’s Wearhouse has rejected the unsolicited proposal by Jos. A. Bank to acquire the company for $48 per share, or about $2.3 billion.

Men’s Wearhouse said in a press release that the offer significantly undervalues the company, is inadequate and not in the best interests of the company or its shareholders.

Washington, D.C. – The National Retail Federation told a congressional committee holding an Oct. 9 hearing on the terrorist attack at a Kenyan shopping mall that the safety of employees and customers is retailers’ top concern.

Seattle -- REI announced it will open a 22,000-sq.-ft. store at Keizer Station, Keizer, Ore., this coming spring.

“REI prides itself on expert employees and quality products that enhance anyone’s trip into the great outdoors,” said Kevin House, REI retail director for the Sierra-Cascade district. “The new store at Keizer Station will extend our services and product expertise to 13,300 eager and loyal members in Salem, who previously traveled more than 30 miles to shop at an REI store.”

New York -- Wal-Mart Stores has put its ambitious expansion plans in India on hold indefinitely. The discounter and its joint venture partner in India, Bharti Enterprises, are parting ways after six years, the companies announced.

Family Dollar saw strong growth in refrigerated and frozen food, health aids and tobacco, which buoyed sales in consumables to 8.3% for the fourth quarter ended Aug. 31. Despite the increase, comparable store sales for the quarter were flat. 

The company’s total net sales for the quarter increased 5.8% to $2.5 billion compared with total net sales of $2.4 billion in the fourth quarter of fiscal 2012. However, customer traffic and the average customer transaction value were flat during the quarter. 

New York -- Amazon remains the world's most trusted retailer despite widespread criticism of its tax affairs and labor disputes.

The Internet giant topped a poll of 30,000 consumers in nine countries although the research by OC&C, unveiled on the closing day of the World Retail Congress, revealed that “its crown has very much slipped.”

Consumers were asked to rank nearly 600 retailers on a range of factors such as trust, value for money, service, product, and multichannel capability.

New York – Jos. A. Bank Clothiers has put in an offer to acquire Men’s Wearhouse for about $2.3 billion in a $48 per share all-cash offer, Reuters reported.

The acquisition would create a men’s apparel powerhouse with over 1,700 stores across the nation. Jos. A. Bank said Men’s Wearhouse was reviewing the proposal, according to the report.

Jos. A. Bank is partnering with Golden Gate Capital on the offer. The investment firm would make a $250 million equity investment in the company.