Retail

The Men’s Wearhouse has rejected Jos. A. Bank’s offer to acquire the retailer for about $2.3 billion in a $48 per share all-cash offer, and Jos. A. Banks is not taking no for an answer. 

The acquisition would create a men’s apparel powerhouse with more than 1,700 stores across the nation. However, the Men’s Wearhouse said in a press release that the unsolicited offer significantly undervalues the company, is inadequate and not in the best interests of the company or its shareholders.

Atlanta - The U.S. Environmental Protection Agency has recognized The Home Depot with a 2013 WaterSense Retail Partner of the Year award. The Home Depot was honored during the WaterSmart Innovations Conference for its commitment to water efficiency and outstanding efforts to support the WaterSense program during 2012.

Fred’s saw positive performance in its general merchandise and pharmacy departments, which lead to sales of $177.3 million in September, an increase of 4% over September 2012.

The Memphis, Tenn.-based company, which operates 702 stores in the South, said same-store sales increased by 2.8%, compared with a 3.8% decrease last year.

For the year to date, sales were $1.3 billion, a 1% increase over $1.3 billion during the same period last year. Same-store sales increased by 0.8%, compared with a 1.2% decrease last year.

Dallas – SAP previewed a mobile app called Snap at its SAP Retail Forum held in Dallas Oct. 7-9. Designed for both tablets and smartphones, Snap is aimed at consumers who purchase items that require DIY assembly.

Bloomberg Businessweek senior writer Brad Stone has authored a new book about Amazon that is a must read for anyone involved in the retail industry – especially Walmart.

Roswell, Ga. – PGA Tour Superstores plans to improve operational efficiency and prepare for future growth using the SAP HANA business intelligence platform and the new SAP Customer Activity Repository application.

In an Oct. 8 session at the SAP Retail Forum 2013 in Dallas, Stephen McDonnold, CIO of PGA Tour Superstore, explained how his company and Cognizant Technology Solutions are working with SAP to create an IT environment supporting maximum operational efficiency.

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.

Los Angeles — The U.S. commercial real estate market continued a slow, but steady, recovery in the third quarter of 2013, according to the latest analysis from CBRE Group.

In the quarter, the retail availability rate declined 10 basis points to 12.2% and had fallen 70 basis points from one year ago.