Jos. A. Bank open to upping bid for Men’s Wearhouse
Hampstead, Md. — Jos. A. Bank Clothiers said that it will consider increasing its $2.3 billion buyout offer for Men’s Wearhouse. The retailer also said that it would drop its proposal in two week if Men’s Wearhouse did not enter into discussions.
In a letter sent to Men’s Wearhouse CEO Douglas Ewert, Jos. A. Bank chairman Robert Wildrick said that if the talks are not held by that date it will pull its offer so that it can consider other strategic options that it has been investigating.
In September, Jos. A. Bank made an unsolicited offer of $48 per share for Men’s Wearhouse. Men’s Wearhouse quickly rejected the bid, calling it "inadequate."
Jos. A. Bank on Thursday said it would consider raising its offer if Men’s Wearhouse opens its books to assess whether an increased bid is justified.
The company said that the board of Men’s Wearhouse has refused to talk and said it will terminate its proposal if "good faith discussions" are not held by Nov. 14.
Jos. A. Bank did not reveal amount by which it was willing to raise its offer.
Survey: Nine-in-10 consumers plan holiday shopping in stores
San Francisco – Almost nine-in-10 (88%) consumers will shop in stores this holiday season, compared to 75% who will shop online and 16% who will shop via mobile device. A new Harris Interactive survey co-sponsored by Aerohive Networks and Euclid also shows that physical retailers still need to address consumer concerns regarding in-store holiday shopping.
Specifically, consumers are most concerned about crowds (42%), lines (29%), and out-of-stock items (15%) affecting their in-store holiday shopping this year.
"Online shopping will never replace the tactile feel of an in-store shopping experience,” said Scott Frymoyer, head of Euclid’s data insights team. “Until recently, the online retailer held a distinct data advantage over the brick and mortar world. Together with Aerohive, we want to provide physical retailers with the same data that their online counterparts use, while improving the benefits of being in a store. Our goal is to offer a better shopping experience to consumers and increase profitability in retailers.”
Neiman Marcus teams up with 3D printing company in holiday offer
New York — Neiman Marcus and 3D printing marketplace Shapeways have teamed together to offer a limited holiday collection.
The collection consists of two pieces available in Shapeways’ 3D Printed metal finishes: A monogrammed silver heart pendant necklace that can be customized with initials, and an orb stainless steel sculpture paperweight. Both items are made by Shapeways’ 3D Printing and feature its prin.
"Through our partnership with Shapeways, we are adding a cutting-edge, yet fashionable twist to this year’s offerings," said Gerald Barnes, chief merchant, Neiman Marcus Direct. "3D printing technology opens up a whole new world of possibilities for beautiful, on-demand gifts. While what we are making available this season is just one of millions of such possibilities, we could think of no better partner to work with on our first foray into this space than Shapeways, the leader in 3D printing."
Shoppers can purchase products from the limited collection through the Neiman Marcus website. Once an order is placed, each piece will then be 3D printed and shipped from Shapeways’ Long Island City factory. Shoppers will receive their custom orders within three weeks.
“We are thrilled to partner with Neiman Marcus on this limited edition collection, which marks their very first collaboration with a 3D Printing company," said Carine Carmy, director of marketing at Shapeways. "We believe that the future of retail is 3D Printed, and we’re excited to work with Neiman Marcus to make this goal a reality through these beautiful, custom products."