Tailored Brands

Fremont, Calif. – Men’s Wearhouse reported declining net income during the third quarter of fiscal 2013 even as net sales improved. Net income dropped about 22%, from $48.8 million in the third quarter of the prior fiscal year to $38.2 million.

Men’s Wearhouse reported declining net income during the third quarter of fiscal 2013 even as net sales improved.

Net income dropped about 22%, from $48.8 million in the third quarter of the prior fiscal year to $38.2 million.

Hampstead, Md. – Jos. A. Bank slightly increased its net income to $13.6 million in the third quarter of fiscal 2013 from $13.3 million in the same period a year earlier. The retailer also saw its net sales grow about 6% to $247.5 million, from $232.8 million.

Same-store sales declined 0.1%, although direct marketing sales increased 23.5% and combined same-store and online sales increased 2.4%. Jos. A. Bank incurred $1.2 million of legal and professional expenses in connection with the company's bid to acquire The Men's Wearhouse.

Jos. A. Bank slightly increased its net income to $13.6 million in the third quarter of fiscal 2013 from $13.3 million in the same period a year earlier. The retailer also saw its net sales grow about 6% to $247.5 million, from $232.8 million.

Same-store sales declined 0.1%, although direct marketing sales increased 23.5% and combined same-store and online sales increased 2.4%. Jos. A. Bank incurred $1.2 million of legal and professional expenses in connection with the company's bid to acquire The Men's Wearhouse.

Edison and Eatontown, N.J. — Levin Management has added two new shopping center assignments — on behalf of two new clients — to its portfolio.

Fremont, Calif. -- Men's Wearhouse has turned the tables on Jos. A. Bank Clothiers, with a proposal to acquire its one-time suitor for approximately $1.54 billion. Men's Wearhouse is offering $55 per share for Jos. A. Bank, which represents nearly a 9% premium to the company's $50.32 Monday closing price.

Jos. A. Bank made an unsolicited $2.3 billion bid in early October for Men’s Wearhouse, which rejected the offer, calling "opportunistic" and "inadequate."

New York -- Eminence Capital which owns 9.8% of the common stock of The Men's Wearhouse and is its single largest shareholder, on Wednesday released a presentation describing why Men’s Wearhouse board of directors should engage in merger discussions with Jos. A. Bank Clothiers, Inc. Eminence Capital also said that it has retained Moelis & Company as a strategic advisor.

Houston – Jos. A. Bank has officially withdrawn its all-cash bid to purchase Men’s Wearhouse for $48 per share, or about $2.3 billion, after failing to get the retailer to enter into merger talks ahead of a Thursday deadline.

Robert N. Wildrick, chairman of the board of Jos. A. Bank, sent a letter to Men’s Wearhouse CEO Doug Ewert informing him that since Men’s Wearhouse had not engaged in good faith negotiations by a previously stated Nov. 14 deadline, Jos. A. Bank would terminate its proposal.

Following a heated back-and-forth between Jos. A. Bank and the Men’s Wearhouse, which culminated in an ultimatum, Jos. A. Bank Clothiers has terminated its acquisition proposal.

As previously reported, Jos. A. Bank had advised the Men's Wearhouse board that it would terminate its all-cash proposal to purchase the company for $48 per share if the board failed to “engage in good faith negotiations” by Nov. 14. The day came and went and the companies continued in a deadlock.

New York -- The Men's Wearhouse and Jos. A. Bank Clothiers saga continues with reports that Men’s Wearhouse will review a previously rejected merger with Jos. A. Bank Clothiers.

Eminence Capital LLC, Men's Wearhouse largest single shareholder, said the retailer is still exploring its strategic options, including a possible merger with Jos. A. Bank, the Associated Press reported. The New York-based hedge fund has urged the retailer to quickly engage with Jos. A. Bank over the merger offer that Men's Wearhouse turned down in October.