SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 18, 1998
Jos. A. Bank Clothiers, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 33-76282 36-3189198
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(State of other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
500 Hanover Pike
Hampstead, Maryland 21074-2095
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number,
including area code: (410) 239-2700
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Item 5. Other Events
On February 18, 1998, Jos. A. Bank Clothiers, Inc. (the Company) issued a
press release stating its intention to reach an agreement with the Pietrafesa
Company which would include a long term supply agreement and the sale of the
Company's manufacturing operations to a new entity controlled by Pietrafesa.
Item 7. Financial Statements and Exhibits
Exhibit 99.1 Press release dated February 18, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
JOS A. BANK CLOTHIERS, INC.
By: /s/ David E. Ullman
_______________________
David E. Ullman
EVP - Chief Financial and Administrative Officer
Date: February 26, 1998
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[DOREMUS NEWSROOM LOGO] 200 Varick Street, New York, NY 10014
T: 212.366.3100 F:212.366.3105
NEW YORK (bullet) LONDON (bullet) SAN FRANCISCO (bullet) FRANKFURT (bullet)
CHICAGO (bullet) MILAN (bullet) HONG KONG
Contact: David E. Ullman
Executive VP and CFO
Jos. A. Bank Clothiers, Inc.
410-239-5715
Timothy F. Finley
Chairman and CEO
Jos. A. Bank Clothiers, Inc.
410-239-5711
For Immediate Release
JOS. A. BANK CLOTHIERS, INC. ANNOUNCES OPERATIONAL
REALIGNMENT AND MANUFACTURING ARRANGEMENT
HAMPSTEAD, Md., Feb. 18--Jos. A. Bank Clothiers, Inc. (Nasdaq: JOSB)
recently announced its plans to open 65 new stores including relocations during
the next three years. In a move designed to focus its efforts on retailing and
its catalog operations, Jos. A. Bank has agreed in principle to a long-term
supply agreement, subject to the completion of mutually definitive agreements,
with The Pietrafesa Company, a manufacturer and a worldwide source of high
quality tailored clothing based in Syracuse, N.Y. As part of this agreement,
Bank's manufacturing operations would be purchased by a new entity controlled
by Pietrafesa. In addition, Jos. A. Bank would continue to purchase significant
amounts of clothing from other sources. Timothy F. Finley, chairman, said: "We
are delighted to align ourselves with such a reputable and established operation
as The Pietrafesa Company and look forward to a long-term
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relationship. Moreover, this relationship provides the best opportunity for our
long-term employees to prosper while we concentrate on our core strengths of
retailing." Richard Pietrafesa said: "We are thrilled to take over Jos. A.
Bank's manufacturing operation. They have a superb labor force, a fine
tradition, and produce a very high quality product. We are also extremely
pleased to have forged a relationship with Jos. A. Bank as a continuing
customer." The transaction will result in a charge to 1997 earnings of
approximately $1.5 million after tax.
Jos. A. Bank Clothiers, Inc., established in 1905, is a retailer, cataloger
and provider of classic, traditional tailored and casual clothing with 87 stores
in 31 states and the District of Columbia. Jos. A. Bank Clothiers is
headquartered in Hampstead, Md.
February 18, 1998
(0045)
