Jos. A. Bank Outlets

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Men's clothier Jos. A. Bank has announced it will open five factory (outlet) stores this year in addition to its seven existing clearance centers. Eventually, the retailers says it will open between 50 and 75 factory stores, stocking merchandise specially created for that market. “We have developed new merchandise that will cater to this customer's needs,” said R. Neal Black, president and chief executive officer. “We also believe that men’s wear, and tailored men’s wear in particular, is generally under-represented in the factory store shopping centers.” [WWD]