JoS. A. Bank Looks to Buy

HAMPSTEAD, MD-JoS. A. Bank Clothiers, on a fast-track expansion plan, is looking to possibly acquire another chain as an outlet for growth, company executives said yesterday during their quarterly conference call with investors and analysts. The men’s clothing retailer, which currently operates 273 units in 37 states, plans to open 60 to 75 new stores a year over the next three years.

If it were to buy another chain, the company would most likely stay in men’s wear at a different price point than its current business-attire stores, said Robert Wildrick, JoS. Bank’s CEO, president and director. Since many of the chain’s executives have experience in women’s attire, an acquisition in that sector is also a possibility, he said. The company is not looking at getting into young men’s, junior or children’s clothing.

Any chain that JoS. Bank buys would have to be accretive from the beginning and add value to the company, Wildrick said. “It can be sick, but not broken,” he said.