The months-long back and forth is over. The Men's Wearhouse will acquire all outstanding shares of Jos. A. Bank’s common stock for $65 per share in cash, or total consideration of $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.
Following disappointing fourth-quarter sales, the Bon-Ton Stores president and CEO Brendan L. Hoffman has notified the company’s board of directors that he will not renew his employment agreement with the company when it expires Feb. 7, 2015.
Inclement weather has hurt some retailers’ quarterly sales results, but it has been no match for Dick’s Sporting Goods. The company’s fourth-quarter results exceeded the upper end of guidance range it provided in its third quarter press release.
As other retailers make headlines for store closings, Ross Stores’ 2014 expansion plans remain on track. The off-price retailer has already opened 30 Ross Dress for Less and seven dd's Discounts stores in 14 different states, and there's more to come.