JoS. A. Bank Confirms That it Has Been Seeking Potential Acquisitions

JoS. A. Bank Confirms That it Has Been Seeking Potential Acquisitions

HAMPSTEAD, Md., June 21, 2013 (GLOBE NEWSWIRE) -- JoS. A. Bank Clothiers, Inc.
(Nasdaq:JOSB) confirmed today that it has been and is considering strategic
opportunities to enhance shareholder value, including seeking potential
acquisitions to facilitate additional growth.

Since the current team assumed management of the Company in 1999, shareholder
value has increased by over 5,700%, from a market cap of approximately $19
million in November 1999 to over $1.1 billion in June 2013. During that same
period, while the economy has ebbed and flowed, the Company has steadily
opened over 500 stores, resulting in the creation of over 5,000 American jobs.
During its fiscal year ended February 2, 2013, the Company exceeded, for the
first time, $1 billion in total sales, including over $100 million in Internet
sales. The Company intends to continue the growth of its core businesses
through internal initiatives such as opening stores and enhancing its Internet
sites.

The Company's efforts to maximize shareholder value through strategic
opportunities include the on-going consideration of potential acquisitions. To
provide the flexibility to pursue such opportunities, the Company intends to
retain capital not needed for operations. The Company has been and is being
assisted in its consideration of various strategic options, including the
evaluation of potential acquisitions, by Financo, LLC, an investment banking
firm. As part of its evaluation of strategic opportunities, the Company has
been and will continue to selectively seek potential acquisitions that are
strategically sound and accretive in the long run. No timetable has been set
for any acquisition.

Andrew Giordano, Lead Independent Director, said, "Since our reinvention in
1999, the board and management have been committed to long-term growth. To
that end, we have built an extraordinarily strong balance sheet with
substantial liquid assets and no bank debt. Those assets are critical to our
efforts to enhance shareholder value, both through strategic opportunities
(such as acquisitions) and organic growth. Our pursuit of strategic
opportunities is part of our philosophy of long-term planning and
decision-making."

JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's
leading designers, manufacturers and retailers of men's classically-styled
tailored and casual clothing, sportswear, footwear and accessories. The
Company sells its full product line through 607 stores in 44 states and the
District of Columbia, a nationwide catalog and an e-commerce website, that can
be accessed at www.josbank.com. The Company is headquartered in Hampstead,
Md., and its common stock is listed on the NASDAQ Global Select Market under
the symbol "JOSB".

Our statements concerning future operations contained herein are forward
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those forecasted
due to a variety of factors outside of our control that can affect our
operating results, liquidity and financial condition. Such factors include
risks associated with the economy, weather, public health and other factors
affecting consumer spending (including negative changes in consumer confidence
and other recessionary pressures), higher energy and security costs, the
successful implementation of our growth strategy (including our ability to
finance our expansion plans), the mix and pricing of goods sold, the
effectiveness and profitability of new concepts, the market price of key raw
materials (such as wood and cotton), seasonality, merchandise trends and
changing consumer preferences, the effectiveness of our marketing programs
(including compliance with relevant legal requirements), the availability of
suitable lease sites for new stores, doing business on an international basis,
the ability to source product from our global supplier base, legal and
regulatory matters, pursuit of growth by acquisitions or other strategic
opportunities and other competitive factors. The identified risk factors and
other factors and risks that may affect our business or future financial
results are detailed in our filings with the Securities and Exchange
Commission, including, but not limited to, those described under "Risk
Factors" in our Annual Report on Form 10-K for the year ended February 2, 2013
and our subsequent Quarterly Report on Form 10-Q filed through the date
hereof. These cautionary statements qualify all of the forward looking
statements we make herein. We cannot assure you that the results or
developments anticipated by us will be realized or, even if substantially
realized, that those results or developments will result in the expected
consequences for us or affect us, our business or our operations in the way we
expect. We caution you not to place undue reliance on these forward looking
statements, which speak only as of their respective dates. Interim period
sales are not necessarily indicative of sales expected for the full quarter.
Furthermore, sales are just one component of earnings and no projection of
earnings should be inferred from any discussion of interim period sales or
other information in this release. We do not undertake an obligation to update
or revise any forward looking statements to reflect actual results or changes
in our assumptions, estimates or projections. These risks should be carefully
reviewed before making any investment decision.

CONTACTS:

JoS. A. Bank Clothiers, Inc., Hampstead, Md.
David E. Ullman, Executive Vice President-Chief Financial Officer 410-239-5715
or Investor Relations Information Request Website
http://phx.corporateir.net/phoenix.zhtml?c=113815&p=irol-inforeq
or Investor Relations Voicemail- (410) 239-5900
E-commerce Address for JoS. A. Bank Clothiers, Inc.: www.josbank.com

 
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