Men’s Wearhouse Ends Jos. A. Bank Tux Supplier Deal
by Harry Sheff
Sep 03, 2014
Men’s Wearhouse will pay $4.5 million in early termination fees to end a deal between its Jos. A. Bank business and Jim’s Formal Wear.
“We are pleased about the early termination of the Jim’s Formal Wear contract to supply tuxedo rental inventory to Jos. A. Bank,” said Men’s Wearhouse CEO Doug Ewert. “As of January 1, 2015 we will be leveraging our internal tuxedo rental inventory and logistics to serve the Jos. A. Bank tuxedo operations.”
Men’s Wearhouse acquired rival Jos. A. Bank Clothiers in March for $1.8 billion.
Men’s Wearhouse operates 1,766 stores in the U.S. and Canada, including approximately 100 K&G stores, 100 Moores stores and 600 Jos. A. Bank stores.
