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Stein Mart reports September sales increases
Stein Mart experienced strong sales in linens, ladies' boutique, gifts, ladies' career sportswear and women's in September, which bolstered the company’s total sales for the month.
Total sales were $112.20 million, an increase of 7.3% compared to September 2012. Comparable store sales increased 5% compared to last September’s increase of 2.4%.
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Jos. A. Bank offers to acquire Men’s Wearhouse
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.