Men's Wearhouse CEO Explains The Company's Plan For Joseph Abboud And Jos. A. Bank

Men's Wearhouse Inc

opened the first flagship store of designer brand Joseph Abboud in New York last week. Douglas Ewert, Men's Wearhouse CEO, was on CNBC recently to discuss the company's plans and strategy for its acquisitions – Joseph Abboud and Jos. A. Bank. Joseph Abboud "Well Joseph Abboud attracts a different kind of customer than [what shopped with us] before," Ewert said. "It's a classic American designer brand with tailor clothing made in the USA, it's a more aspirational product and it's attracting a new customer to shop with us and gives an opportunity for existing customers to trade up to a higher quality product." Jos. A. Bank Ewert was asked that how he plans to bring a turnaround at Jos. A. Bank to brings its sales and comps in line with Men's Wearhouse, "Well Jos. A. Bank has suffered from a hyper aggressive promotional strategy and so we are weaning off of that. We are going to be introducing new products, new fits, new styles, give the customer more reasons to shop than just price and we think 2015 is going to be a transformational year for the Jos. A. Bank brand." He continued, "And revenue synergy should start kicking in, in the back half of this year as we bring in a expanded shoes assortment, more big and tall product, more tailored and slim fit products. Tuxedo rental is an opportunity in the Jos. A. Bank business. So, we see lots of opportunity in that business to help recover and from this hyper aggressive promotion."