Jos. A. Bank
| Company type | Division |
|---|---|
| Industry | Retail |
| Founded | 1905 |
| Founder | Charles Bank, Joseph Alfred Bank |
| Headquarters | Fremont, California , United States |
Area served | United States |
| Products | Men's suits and tailored clothing |
| Parent | Tailored Brands |
| Website | josbank |
Jos. A. Bank is a U.S.-based retailer specializing in men's suits. Established in 1905 by Charles Bank and Joseph Alfred Bank, the company currently manages more than 180 stores alongside three distribution hubs located in Atlanta, Houston, and Jenkins County, Georgia. The corporate headquarters are situated in Fremont, California. Jos. A. Bank operates as a division of Tailored Brands, which also owns K&G Fashion Superstores, Men's Wearhouse, and Moores Clothing for Men in Canada.
1886–1945: Origins and Growth
Charles Bank emigrated from Lithuania to Baltimore in 1866, where he launched a tailoring business that expanded into manufacturing trousers by the early twentieth century. His grandson, Joseph A. Bank, entered the enterprise in 1898 as a cloth cutter and later took on the role of wholesale sales representative covering the Southern United States.
In 1905, Moses Hartz established a men’s apparel manufacturing firm, which was subsequently managed by his widow Lena Hartz and their daughter Anna Hartz, who worked as a traveling sales agent. Although initially competitors, Anna married Joseph Bank in 1922, resulting in the creation of L. Hartz and Bank—a company that produced and retailed suits within the region.
The company experienced consistent growth; by 1940 it had acquired a building in Baltimore that housed its offices, showroom, shipping department, and cutting facilities to support its expanding operations.
1945–2014: Operating Independently as JoS. A. Bank and Co.
In 1945, Joseph Bank and his son Howard purchased the Hartz family's stake, establishing JoS. A. Bank and Co. Following World War II, the firm concentrated on men’s tailored apparel and distributed products directly to consumers through retailers such as Louie's, Inc. based in Washington, D.C.
After Joseph Bank passed away in 1954, Howard Bank assumed leadership of the company. By 1981, with eleven retail outlets and a growing catalog business, CEO Leonard Ginsberg—the last family member involved—sold the business to the Quaker Oats Company. Under Quaker Oats' ownership, Jos. A. Bank expanded to 25 stores by 1985 but reverted to private control in 1986 when Quaker shifted focus back to its core operations. Franchise expansion resumed starting in 1992.
Jos. A. Bank went public on NASDAQ under the ticker JOSB in spring 1994. In 1998, it divested its manufacturing division to outsource production efforts and concentrate on retail and factory-direct tailored clothing sales. That same year marked the launch of its online shopping platform.
2013–2014: Acquisition Efforts and Merger with Men's Wearhouse
Towards the end of 2013, Jos. A. Bank pursued a merger with rival Men's Wearhouse but declined a $1.54 billion acquisition offer citing undervaluation concerns. In February 2014, Jos. A. Bank announced intentions to acquire outdoor apparel retailer Eddie Bauer for $825 million—a move widely interpreted as a defensive strategy.
Men's Wearhouse responded by filing legal action to block this Eddie Bauer acquisition, alleging it was intended to thwart their takeover attempt. Delaware Judge J. Travis Laster expedited proceedings, scrutinizing the deal’s legitimacy and mandating Jos. A. Bank to disclose acquisition documents while notifying Men's Wearhouse prior to finalizing any transaction.
On March 11, 2014, both companies consented to merge with Men's Wearhouse acquiring Jos. A. Bank for $1.8 billion and forming Tailored Brands as a combined entity. As part of this agreement, Jos. A. Bank abandoned its plans to acquire Eddie Bauer.
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- American firms founded in 1905
- Apparel businesses started in 1905
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- United States clothing retailers
- Companies headquartered in Fremont, California
- Lithuanian-American heritage in Baltimore
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- Businesses that filed Chapter 11 bankruptcy in 2020
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- American companies established in 1905
- Companies of the United States by year of establishment