Jos. A. Bank’s net and comparable sales continued to slide in the fourth quarter, but parent firm The Men’s Wearhouse Inc. said both the sales associated with the acquired brand and the synergies derived from it were running ahead of schedule. The company exceeded analysts’ expectations for top- and bottom-line results in the quarter, with mid- to high-single-digit comps at its three legacy operations — Men’s Wearhouse, Moores and K&G. While Jos. A. Bank continued to backtrack on sales, with a 6.6 percent decline in comps and a 5.4 percent drop in net sales in the quarter, Doug Ewert, chief executive officer of the company, classified the performance as “above our expectations.” The process of integrating the operation has also yielded “significant progress,” said Ewert, estimating the run-rate synergies through the end of 2014 at $35 million, more than twice the target of $15 million. “In the nine months since the acquisition,” Ewert commented, “Jos. A. Bank has transitioned many of the back-office functions, began store train programs, began the work to instill its employees with the Men’s Wearhouse culture and launched tuxedo rental in all its Jos. A. Bank stores.” The company expects Jos. A. Bank comps to remain in negative territory through
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