Men's Wearhouse and Jos. A. Bank Clothiers gain on hostile offer

The first full trading week of the year has started strong, with

markets closing mixed Tuesday. Men's Wearhouse and Jos. A. Bank Clothiers saw their stocks fluctuating after the last chapter of their particular story was made public.

Men's Wearhouse (MW.N) closed up by 2.2 percent after it posed a hostile bid for rival Jos. A. Bank Clothiers (JOSB.O) with an increased offer, days after the smaller rival raised its buyout defences. Jos. A Bank shares also climbed, by 4.5 percent.

Elsewhere and keeping with its strategy of expanding higher-margin businesses, PVH Corp. has entered into a license agreement with Axis Golf Pty. Ltd. to market and distribute IZOD brand products across Australia, New Zealand, Fiji and other South Pacific islands.

The agreement will be valid through 2018 and will see Axis Golf to manufacture, market, and distribute IZOD-branded dress shirts and underwear. Axis Golf will also be responsible for distributing accessories purchased from other licensees of IZOD.

“We believe that PVH Corp.’s recently concluded transaction furthers its plans to concentrate on higher-margin businesses rather than lower-margin products to drive long-term growth and enhance shareholder value,” backed-up the move analysts at Zacks.

In Japan, Fast Retailing reported December 2013 same-store sales increased by 1.1 percent year-on- year while sales at their own stores increased by 3.7 percent. Total sales including online sales increased by 4.1 percent.

“Same-store sales rose year-on-year in December as the cold weather boosted sales of the winter ranges featured in our advertising campaigns and other winter items,” summed up the company in a note issued Tuesday.

Finally, Marks & Spencer was in everyone’s mouth in London, as the British retailer’s house broker has cut its forecasts for the company’s annual profits, increasing fears that the 130-year-old retailer is to post disappointing Christmas sales numbers, reported the ‘Telegraph’.