Hampstead, Md. JoS. A. Bank Clothiers Inc. said Thursday it has opened its first factory concept store, in Riverhead, N.Y.
The new store is the first of five the specialty retailer says it will open in fiscal year 2010 as part of the test phase of its new factory store concept.
“We are excited about kicking off our factory store initiative,” said R. Neal Black, president and CEO. “We believe this concept could represent a significant long-term opportunity for the company and could result in an additional 50-75 factory stores in the U.S.”
The first factory store opened at Tanger Outlets in Riverhead, and leases already have been signed for stores at Jersey Shore Premium Outlets in Tinton Falls, N.J., and Philadelphia Premium Outlets in Limerick, Pa. Both are slated to open this month.
Texas and Maryland stores are expected to open later this year.
JoS. A. Bank currently operates 484 stores in 42 states and the District of Columbia.