Jos. A. Bank's Makeover Will Dial Back Discounts, Update Clothes
- Buy-one, get-three-free sales will end this fall, CEO says
- Retailer is adding slimmer suits, accessories to its selection
A Jos A. Bank shop on Madison Avenue in New York City.
Photographer: Craig Warga/BloombergJos. A. Bank, the clothing chain whose aggressive discounts were mocked in a “Saturday Night Live” sketch, no longer expects customers to buy four suits at a time. But two might be nice.
Under new owner Men’s Wearhouse, the company is making its promotions less outlandish -- though not abandoning them altogether -- and modernizing a 110-year-old brand that hasn’t caught on with millennials. Men’s Wearhouse Chief Executive Officer Doug Ewert is expanding Jos. A. Bank’s big-and-tall options, slim-fit styles and the shoe collection, aiming to broaden the chain’s appeal. The strategy will be unveiled this fall when the retailer eliminates “unnatural” discounts in favor of more targeted sales, like offering one suit for $229 or two for $400, Ewert said.