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JoS. Bank Expansion On Track

HAMPSTEAD, MD-The company is planning to open more than 50 units this year, getting closer to the company's goal of 500.

By Ian Ritter | Updated on April 13, 2006

HAMPSTEAD, MD-JoS. A. Bank Clothiers is well on its way to management’s goal of 500 stores in the chain. This year the company plans more than 50 units on top of the 328 it currently operates and the 56 it opened last year.

This year the company will open stores in 14 new markets. So far in its first fiscal quarter JoS. A. Bank has opened four units out of the five to seven planned. One of them, in New Mexico, was in a new state for the company.

Executives are still exploring acquisition opportunities for further growth. “We are exploring every possible option that comes our way,” acknowledged Robert Wildrick, the company’s director, chief executive officer and president, during the retailer’s year-end conference call, adding “we’re not going to do anything unless it makes real good business sense.”

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