Men’s Clothing Retailer Banks on California
By George Anderson
Jos. A. Bank knew opening stores in California was a smart move. After all, the retailer of men’s casual and tailored clothes and accessories was already doing 10 percent of
its direct marketing business in the state without the benefit of a single store.
Although it is just getting started, the clothing chain has plans to eventually open 50 stores in the state.
David Ullman, chief financial officer, Jos. A. Bank told Investor’s Business Daily, “We’ve seen good (direct marketing customer) penetration from both the northern and
southern parts of the state, which gives us confidence in our goal of having 50 stores.”
The company has had to make adjustments in its clothing line such as offering lighter and more colorful fabrics to meet the needs of its customers in California.
This attention to the needs of consumers has enabled Jos. A. Bank to continue growing sales and profits, says Preston Silvey, an analyst with First Dallas Securities.
“They have a dedicated and loyal clientele,” Mr. Silvey said. “You see a lot of clients going back to the stores because (Bank) is consistently increasing the quality and keeping
prices reasonable so men can afford to buy there.”
Moderator’s Comment: How are retailers such as Jos. A. Bank able to create loyal customers when others are unable?
Jos. A. Bank understands rule number one in men’s apparel retailing — make it easy for the customer.
The company stands for quality at reasonable prices. That is the brand’s promise and it delivers in product quality, selection, pricing and customer service
in its stores, catalog and online operations. [George
Anderson – Moderator]