Parent Company of Men's Warehouse Paid Way Too Much For Jos. A. Bank
Tailored Brands Inc. plans to close as many as 140 Jos. A. Bank stores in 2016.By Ryan Biek | March 17, 2016
The famed "buy one, get three free" style of promotions are still haunting Tailored Brands Inc. since it acquired Jos. A. Bank in March 2014.
Tailored Brands, formerly Men's Warehouse, recently announced it'd be closing 250 stores in 2016 –– up to 140 of which are Jos. A. Bank locations.
Few, if any, Men's Warehouse stores are set to close as sales for the company have reportedly remained strong. The problem for Tailored Brands is it tried to ween customers off Jos. A. Bank's habit of heavy discounts, and a large portion of its customers have stopped coming in.