Can Jos. A. Bank Really Survive Without Excessive Discounts?
When Men’s Wearhouse acquired rival Jos. A. Bank in 2014, executives knew they had a problem in their new brand’s “Buy a suit, get three free” promotions. Just how big of a problem appears to have caught Men’s Wearhouse completely off guard. After the company scaled back the promotions it deemed unsustainable in the past year, sales at Jos. A. Bank have tanked. Comparable-store sales are down 35.1 percent for the quarter to date, and Men’s Wearhouse shares fell as much as 27 percent, to $13.55, on Thursday.
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