The tussle between men’s apparel retailer Jos. A. Bank Clothiers Inc (NASDAQ:JOSB)and its larger rival The Men’s Wearhouse Inc. that dragged on for almost 6 months has finally come to an end as both the companies sealed a merger deal. Per the deal, Men’s Wearhouse will acquire all shares of Jos. A. Bank in an all-cash transaction of $65.00 per share or $1.8 billion. Men’s Wearhouse has extended the expiration date of its tender offer to Mar 19, 2014. Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) stock opened today at $64.21 and is currently trading at $64.26. The stock showed a positive weekly performance of 3.61%.
Shares of The Men’s Wearhouse, Inc. (NYSE:MW) fell about 3%, as the company disappointed investors with its fourth-quarter fiscal 2013 results. Inclement weather and persistent weakness in consumer spending weighed upon the company’s performance. The company delivered adjusted quarterly loss per share of 38 cents that widened from than the Zacks Consensus Estimate of loss of 11 cents and the year-ago quarter loss of 10 cents. The Men’s Wearhouse, Inc. (NYSE:MW) stock opened at $55.87, in current trading session and currently is at $55.43, by losing -0.47%. The 52 week range of $28.95 – $58.80. Company’s market capitalization is $2.63 billion.
The Gap Inc. (NYSE:GPS) Factory Store announces the “Exclusively Styled” campaign, its first global marketing collaboration and partnership with celebrity stylist and television personality George Kotsiopoulos. The campaign kicks off on March 20, showcasing current trends and styles at a value from Gap Factory Store’s Spring 2014 collection. The Gap Inc. (NYSE:GPS) stock opened at $41.46 and currently trading at $41.35. The EPS of the stock is 2.74. Company’s market capitalization is $18.44 billion.
Urban Outfitters (NASDAQ:URBN) had its target price lowered by UBS AG from $39.00 to $38.00 in a report issued on Tuesday, American Banking & Market News reports. They currently have a neutral rating on the stock. Urban Outfitters, Inc. (NASDAQ:URBN)stock opened the session at $35.26, and now is at $34.94. The 52 week range of the URBN stock remained $33.95 – $44.96 and the day range was $34.92 – $35.34.