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Men’s Wearhouse is not looking good
Breaking the cycle of promotional ridiculousness at Jos. A. Bank is proving to be a far worse drag on sales and profits than parent company Men’s Wearhouse expected.
Men’s Wearhouse revealed the cost of breaking the promotional cycle at the acquired Jos. A. Bank stores on Nov. 6 when CEO Doug Ewert announced a huge downward revision to the combined company’s third quarter and full-year sales and profit outlook.
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Founder of Men’s Wearhouse back in the game with new retail concept
Men’s Wearhouse founder George Zimmer has returned to the retail arena with a new concept that aims to do for men’s evening wear what Rent the Runway did for fancy dresses.
Zimmer, the founder and ousted CEO of Men’s Wearhouse, is launching Generation Tux, an online tuxedo and suit rental company. The start-up will rent 17 different styles of house-brand tuxedos, with a flat rate of $95. But customers can also add accessories, including shoes and cuff links, to put together a complete for $150 or less.
