Men’s Wearhouse buys Jos. A. Bank
The battle in men’s clothing has finally ended.
Men’s Wearhouse agreed to buy Maryland-based Jos. A. Bank on Tuesday in a deal worth $1.8 billion, ending nearly six months of hostilities between the two retailers.
The combined company would become the country’s fourth-largest men’s retailer and operate more than 1,700 stores across the country, Men’s Wearhouse and Jos. A. Bank said in a joint statement. Jos. A. Bank’s brand will stay independent, the company said, which means the acquisition will not affect the appearance of its stores.
Top Disney exec stepping down
LOS ANGELES — In a move that stunned much of Hollywood, one of the entertainment industry’s most powerful women, Anne Sweeney, said Tuesday that she would step down as co-chairwoman of Disney Media Networks to become a television director.
Disney executives and Sweeney, 56, emphasized in interviews that she made a voluntary decision to leave a sprawling television empire that includes the ABC broadcast network, Disney Channel, ABC Family and Disney’s share of Hulu and A&E Networks.
— From wire reports