Clothier

P. Edward Fine, who practiced law before entering the men's clothing business, died Friday of cancer at his home in the Club House Condominium in Northwest Baltimore.Mr. Fine, who was 89, and his wife operated Edwards Men's and FTC Boys Shop in Overlea from 1940 until 1968. After retiring from his store, he worked part time as a salesman at the Young's Men's Shop in Hamilton until 1980.From 1924 until 1940, he practiced law with a brother-in-law, the late H. Mortimer Kremer.Mr. Fine was born in Baltimore and graduated from City College and the University of Maryland law school.

Men's clothing store chain JoS. A. Bank Clothiers Inc. now has 601 stores across the United States, the company announced Monday. The Hampstead-based public company opened two stores on Friday - one in Miami and the second in southeastern Michigan, the company said. "Achieving the 600 store level represents a significant milestone," said CEO R. Neal Black in a statement. "Over the past 5 years, we have opened more than 190 new stores. " JoS. A Bank expects to expand to 800 stores - 700 "full-line" stores and 100 factory outlets, the company's statement said.

Frank Tworecke has been in Baltimore for only 2 1/2 years, but the president of Jos. A. Bank Clothiers knows his local market down to its buttonholes, pleats and lightweight woolen jackets.Tworecke also has his hand in a good cause, the Johns Hopkins Children's Center, for which he has collaborated on the Miracle Collection II, a new line of ties and suspenders inspired by the molecular structure of pediatric drugs. All proceeds from these colorful accessories benefit the Children's Center.

Men's retailer Jos. A. Bank Clothiers Inc. said profits took a more than 11 percent dive in the third quarter, hurt by extra markdowns that drove the apparel sales and by Hurricane Sandy's strike to the East Coast. Net income fell to $13.3 million in the three months that ended Oct. 27, an 11.2 percent drop compared with net income of $15 million in the year-earlier period, the Hampstead-based company said Wednesday. The company earned 47 cents per share, down 13 percent from 54 cents per share earned in the third quarter of 2011.

At the festive unveiling of a new ad campaign featuring a flock of sheep yesterday, Jos. A. Bank Clothiers Inc. gave a serious announcement that also was a cause for celebration: A preliminary agreement was reached early yesterday to convert its $50 million in "junk-bond" debt into equity.Under the direction of its new turnaround management team, the Owings Mills-based clothier said that it had reached an agreement with Bank's 13 bondholders to convert the debt, which Bank took on during a leveraged buyout in 1986 arranged by the now-defunct Drexel Burnham Lambert.

Jos. A. Bank Clothiers, based in Hampstead, just completed its most successful year in the past five, Ed Jecelin, vice president for manufacturing, told members of the Carroll County Economic Development Commission yesterday.EDC members toured the plant and corporate headquarters yesterday in an effort to better understand the county business."We're glad to be in Carroll County and we want to stay as long as we can," Mr. Jecelin said.The company, which was in financial trouble a little over a year ago, has opened 10 new stores and plans to hire 40 more employees in the next two to three months, he said.

Jos. A. Bank Clothiers Inc. finally pulled the trigger yesterday on the long-speculated closing of its Hampstead sewing factory, a decision that the retailer said will create "substantial savings" but eliminate about 100 workers from the payroll.The 35,000-square-foot factory, which manufactures suit jackets and sports coats, will close in early February and may be sold or put to some other use.Already, 28 employees have been transferred to the company's tailoring division. The other workers will receive what was described as standard severance packages.

Jos. A. Bank Clothiers Inc. said yesterday that a four-month selling spree left the company with little on the hangers to peddle, causing same-store sales to dip last month. Overall sales were up for the month, and they were particularly strong in catalog and Internet sales, but same-store sales were down 3.7 percent. Same-store sales, sales from stores open more than a year, are a key measurement of retailers' performance. The news drove Bank's shares down $3.20, or 16 percent, to close yesterday at $16.75.

Jos. A. Bank Clothiers Inc. says the kind of heavy promotions for which it has been criticized in the past is helping it through a turbulent economy. The Hampstead-based men's retailer said yesterday that fiscal fourth-quarter comparable sales, or for those stores open at least a year, jumped 13 percent, while yearly sales increased 8.9 percent. Net income for the fourth quarter ended Jan. 31 was $30.4 million, or $1.66 per share, compared with $26.5 million, or $1.45 per share, the year before.

A 1985 file photo in Saturday's Business Section may have given the impression that Stephen L. Snyder, a Baltimore lawyer, was still involved with Bernard Hill Inc., the Elkridge-based clothier that is going out of business. According to Mr. Snyder, he has not been affiliated with the company in any capacity since 1986.

Brian Lefko remembers the day a salesman walked in to Sam Glass and Son clothing store on Gay Street looking to interest him in buying some Pierre Cardin. "Who is Pierre Cardin? We don't want that junk," Lefko remembers thinking. Back then the French designer wasn't in the vocabulary of a Baltimore men's shop buyer. Forty-some years later, Lefko notes that nearly all the other manufacturers he used to sell are gone. And now Lefko, who has seen a lot in 45 years in the clothing business, is planning to shut the doors of his store on Reisterstown Road just south of Pikesville.

Men's clothier Jos. A. Bank said Monday morning that it is entering the factory outlet business, opening five stores by the end of this fiscal year. If the five stores perform well, the company will open more in the future. There is the potential to open 50 to 75 factory stores in the U.S., R. Neal Black, president and CEO of Jos. A. Bank said in a statement. The company now has seven clearance outlet stores where it sells overstock from its full-priced stores. The company has developed new merchandise to sell in the newest stores.

Expanding waistlines might not be good for the nation's health, but it could mean a new revenue stream for men's clothier Jos. A. Bank. The Hampstead retail chain is bringing its line of clothing for "portly" and tall men to more of its stores and expanding its product line for online sales. The company, which for several years has offered a limited selection of items for the big-and-tall set, such as longer neckties and larger-size dress shirts, said that population is one that has been underserved.

Men's clothier Jos. A. Bank reported a 22 percent profit increase for 2009 as it continued to attract shoppers with steep discounts. The Hampstead company said net income came in at $71.2 million, or $3.84 per share, for the fiscal year ended Jan. 30. That was compared with $58.4 million, or $3.17 per share, for the same period a year ago. Revenue for the year jumped to $770.3 million, a 10.7 percent gain from a year ago when revenue was $695.9 million. The performance beat Thomson Reuters analysts' expectations of $3.70 per share, or $753 million.

Jos. A. Bank Clothiers Inc. says the kind of heavy promotions for which it has been criticized in the past is helping it through a turbulent economy. The Hampstead-based men's retailer said yesterday that fiscal fourth-quarter comparable sales, or for those stores open at least a year, jumped 13 percent, while yearly sales increased 8.9 percent. Net income for the fourth quarter ended Jan. 31 was $30.4 million, or $1.66 per share, compared with $26.5 million, or $1.45 per share, the year before.

Robert N. Wildrick said yesterday that he is retiring as chief executive officer of Jos. A. Bank Clothiers Inc., nearly a decade after taking over the then sleepy, financially strapped regional menswear chain and turning it into a national brand. Wildrick, 64, will remain with the company as chairman of the board. He signed a three-year consulting contract with the Hampstead company that begins Dec. 20. He will be paid $150,000 a year as chairman and $825,000 a year for his consulting services.

William J. Clothier II, 86, a former tennis star, international spy and grandson of the co-founder of the Strawbridge & Clothier department stores, died of leukemia Saturday at his home in Valley Forge, Pa. While Mr. Clothier won national tennis titles, he also was secretly working as a special agent for the FBI and later worked for the CIA. Mr. Clothier, whose father, William J. Clothier, was a national singles champion, toured on the grass-court circuit...

As if getting up before sunrise with sore arms, an aching back and blistered hands is not dedication enough, crew teams in Maryland find themselves facing increasing competition these days for space on the state's crowded waterways. "It has now become the number of boats on the water and the difficulty with the height of wakes that make it hard to train safely and accommodate the crews," said Rick Clothier, director of rowing for the Naval Academy. Clothier has worked with Navy crew for the past 31 years.

Scott Taylor bought suits from a Jos. A. Bank men's store in Baltimore in 2001 and was so impressed with the service that when he got home, after doing some research, he bought shares in the Hampstead-based company. He's been happy with his investment, which has grown sixfold. He bought his first shares at about $5. Yesterday the company's shares closed at $30.10. What puzzles Taylor is why so many investors are betting against Bank by shorting its stock - a bet that the share price will fall.