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Men’s Wearhouse completes acquisition of Jos. A. Banks
Fremont, Calif. -- The Men's Wearhouse has completed its acquisition of one-time-rival Jos. A. Bank Clothiers. The combined company has more than 1,700 stores, approximately 26,000 employees and sales of $3.5 billion on a pro forma basis.
The final price tag to combine the two retailers was $1.8 billion, or $65 per share.
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Wal-Mart's tech lab buys Stylr mobile fashion app
San Bruno, Calif. -- @WalmartLabs, the Silicon Valley-based tech R&D and innovation arm of Wal-Mart Stores, has acquired Stylr, a mobile fashion app that helps shoppers finds clothes in nearby stores. Terms of the deal were not disclosed.
Stylr is @WalmartLabs' 13th acquisition in the past three years.
Stylr will be shut down and removed from the iTunes App Store by the end of the month. Wal-Mart's own mobile app won't run Stylr, but the newly acquired technology will be used to develop future mobile innovations.