JoS. A. Bank Clothiers
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| JoS. A. Bank Clothiers | |
| Subsidiary | |
| Industry | Clothier |
| Founded | Baltimore, Maryland, 1905 |
| Founder | Charles Bank Joseph A. Bank |
| Headquarters | Hampstead, Maryland, U.S. |
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Key people
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Douglas S. Ewert (CEO) Jon W. Kimmins, CFO & EVP |
| Products | Men's Clothing |
| Revenue |
 US$ 1.04 billion (2012) |
 US$ 128.4 million (2012) |
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US$ 79.6 million (2012) |
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| Total assets |
US$ 894 million (2012) |
| Total equity |
US$ 667.5 million (2012) |
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Number of employees
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6340 |
| Parent |
Men's Wearhouse (2014–present) |
| Website | www.josbank.com |
Joseph A. Bank Clothiers, Inc., also known by the abbreviated name JoS. A. Bank Clothiers, is a retailer of men's clothing, particularly known for its low-priced men's suits. Established in 1905, it sells its products in over 800 stores throughout the United States, and by catalog and e-commerce. The company has its headquarters in Hampstead, Carroll County, Maryland. Jos. A. Bank offers tuxedo rentals through its parent company, Men's Wearhouse.
Charles Bank came to Baltimore, Maryland, from Lithuania in 1866 and opened a small tailor shop in the city. By the start of the 20th century, he had branched out into the manufacturing of pants and his grandson, Joseph A. Bank, joined his small company in 1898 as a cloth cutter when he was 11 years old. Over the next ten years, Joseph became a wholesale salesperson, traveling in the South to sell pants.
In 1905, Moses Hartz established a men’s clothing manufacturing company which was taken over by his widow Lena Hartz in 1921. Their daughter, Anna Hartz, was a traveling salesperson for the firm. Although they were rivals in business, Anna married Joseph Bank. In 1922, Joseph joined forces with his new mother-in-law and formed L. Hartz and Bank. This new company manufactured and sold suits to retailers throughout the region.
Over the years, the company grew and prospered and in 1940, they purchased a building on Hopkins Place in Baltimore to house their offices, showroom, shipping area and cutting department. In 1945, Joseph Bank and his son, Howard, bought out the Hartz interest in the company and formed JoS. A. Bank and Co.
Following World War II, there was a severe shortage of men's tailored clothing. A decision was made to specialize in that merchandise and to sell directly to the consumer, rather than wholesale. As a result, a deal was struck with a retailer, Louie's, Inc., in Washington, D.C., to sell their clothing.
In 1954, Joseph Bank died and operation of the company was assumed by Howard.
By 1981, JoS. A. Bank had 11 retail stores and a growing catalog business. That year, the company was purchased by the Quaker Oats Company and became part of their Specialty Retailing group along with Eyelab and Brookstone. That relationship proved mutually beneficial, and by 1985, there were 25 stores. In 1986, Quaker decided to concentrate its efforts on its core businesses and JoS. A. Bank once again became a privately owned corporation. In 1992, their expansion included a franchise concept. In the spring of 1994, JoS. A. Bank Clothiers became a publicly owned company, trading its stock through the NASDAQ stock exchange (JOSB).
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