Jos. A. Bank on the look-out for potential buyer

Jos. A. Bank Clothiers Inc. has announced it is looking

for a potential buyer, despite not having set a deadline for completing a deal.

“We have built an extraordinarily strong balance sheet with substantial liquid assets and no bank debt,” explained earlier this month Andrew Giordano, lead independent director on the board. “Our pursuit of strategic opportunities is part of our philosophy of long-term planning and decision-making.”

Men’s clothing retailer Jos. A. Bank reported 109 million dollars in online sales for the full year 2012, representing the e-commerce sales the 10.9 percent of overall sales, which totalled 1 billion dollars. Direct channel’s sales came stood up for the 31.6 percent of the company’s growth in 2012, ‘Internet Retailer’ estimates.

The retailer says its aim is to maximize shareholder value.