Just weeks after Men's Wearhouse Inc. (NYSE: MW) declined a $2.3 billion offer from Jos. A. Bank Clothiers Inc. (Nasdaq: JOSB), the suit retailer may make a bid to buy high-end shoemaker Allen Edmonds.
Sources close to the matter are reporting that a purchase of the shoe company would most likely be in the low hundreds of millions of dollars, reports The New York Times. Allen Edmonds sells its shoes through department stores, such as Nordstrom and Macy's, and 38 company-owned retail stores. Last year, the brand reported sales of about $120 million.
It's not clear just yet how the potential acquisition would affect the offer from Jos. A. Bank, but analysts think that it will not deter the retailer's pursuit of Men's Wearhouse. Jos. A. Bank Chairman Robert Wildrick said that he wouldn't rule out making a hostile bid for Men's Wearhouse.
For more see:
-This Bloomberg article
-This New York Times article
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