Jos A Bank says it is considering acquisitions

June 21, 2013

HAMPSTEAD, Md. (AP) -- Jos. A. Bank Clothiers Inc. said Friday it is looking for possible acquisitions.

The men's clothing company said it is considering acquisitions and will retain capital not needed for operations to fund a potential deal. Jos. A. Bank said its annual sales surpassed $1 billion for the first time in the fiscal year that ended Feb. 2, and its Internet sales were more than $100 million. It said it plans to continue expanding its business by opening new stores and enhancing its site.

The company said investment banking firm Financo LLC will assist it in evaluating purchases and other moves. Jos. A. Bank said it has not set a timetable for any acquisition.

Jos. A. Bank's shares were up 61 cents, or 1.5 percent, to $40.24 in after-market trading following the announcement. They had closed the regular trading session down 31 cents at $39.63