Tuesday, March 11, 2014

The Menswear War is Finally Over -- Men's Warehouse Buys Jos. A. Bank

http://finance.yahoo.com/news/mens-wearhouse-buy-jos-bank-163300549.html

The winner in this ridiculous war is the seller.  I went to JAB in mid-December for a 70% + 20% off sale.  So if you bought a suit jacket for $600, is cost you $180, then if your total purchase still exceeded $200, you got another 20% off.   Two suit jackets for $288.  Now, I know that the alleged retail price is way too high, but still, you are getting two coats for less than $150 each.

I asked the manager how business was (mid-December, still selling decent sportcoats for $144).  'Not good.  We are pricing stuff like it is the mid-70s and we still are getting mediocre traffic."

If there are 1,700 stores open right now, I would suggest that there will be 1,300 stores by year end.

Congrats to JAB.

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