NEW YORK, Jan. 21, 2014
/PRNewswire/ -- Eminence Capital, LLC, which owns 4.9% of the
common stock of Jos. A. Bank Clothiers, Inc. (JOSB), today
announced that it has nominated two industry veterans for election
as directors to the Board at Jos. A. Bank's annual meeting. The
nominees include:
- Bruce J. Klatsky, former
Chairman of Phillips-Van Heusen Corporation (PVH), a position he
held from 1994 until June 2007,
and
- Norman S. Matthews, former
President of Federated Department Stores and active and former
board member of other retail and consumer companies.
"We are very pleased that these two highly experienced retail
executives have agreed to stand for election as independent
directors at the 2014 meeting of Jos. A. Bank shareholders. Their
knowledge and success in the retail industry as well as their
commitment to maximizing shareholder value have been clearly
evident throughout their long and distinguished careers," said
Ricky C. Sandler, Chief Executive
Officer of Eminence Capital.
"We want to reiterate that we intend to support Men's
Wearhouse's nominees and will withdraw our nominees if those
proposed by Men's Wearhouse are still in the running at the time of
the Jos. A. Bank annual meeting," Sandler said.
Additional Information on Eminence Capital
Nominees
Bruce Klatsky stepped down as
Chairman of PVH in 2007. During his 13 years as CEO, he led the
transformation of a 120 year-old shirt company into one of the
largest apparel and footwear companies in the world. He oversaw the
operations and strategic development of the multi-division
NYSE-traded public company with approximately 20,000 employees,
annual sales in excess of $2 billion,
and brand revenues of approximately $6
billion. In 2002, he led the successful acquisition and
integration of Calvin Klein, a
transaction that added a great brand to a roster of companies that
produce and distribute men's dress shirts, footwear and sportswear.
These brands include Van Heusen,
G.H. Bass & Co., Geoffrey Beene, Izod, Arrow, and dress shirt
labels such as Kenneth Cole, Arrow,
BCBG Max Azria, Chaps, Sean Jean,
Michael Kors, and Donald Trump.
Klatsky also serves as the Lead Independent Director of Gazal
Corporation, one of the largest publicly traded Australian retail
and apparel companies, and was on the board of Charming Shoppes, a
multi-billion dollar specialty retail company, until it was
acquired in 2012.
Norman Matthews spent more than
10 years at Federated Department Stores, retiring in 1988 as
President. He served for three years as Vice Chairman of Federated
and four years as Chairman of the Gold Circles Stores Division.
Matthews also serves on the boards of Henry
Schein, Inc. and Spectrum Brands Holdings, Inc., and is the
Chairman of the Board of Directors of The Children's Place Retail
Stores, Inc. He previously served on the boards of Sunoco, Toys 'R'
Us, Federated Department Stores, and Galyan's.
About Eminence Capital,
LLC
Eminence Capital, LLC is an asset management firm founded in 1998
that currently manages approximately $4.9
billion on behalf of institutions and individuals. The firm
employs a bottom-up, research-driven investment strategy that
utilizes a combination of industry research, rigorous financial
analysis and dialog with company management to execute its
investment process.
Additional Information Regarding the Proxy
Solicitation
In connection with its solicitation of proxies for the 2014 Annual
Meeting of Jos. A. Bank Clothiers, Inc. ("JOSB"), Eminence Capital,
LLC intends to file a proxy statement on Schedule 14A and other
relevant documents with the SEC. Investors and security
holders are urged to read the preliminary proxy statement in its
entirety and the definitive proxy statement and other relevant
documents when they become available, because they will contain
important information regarding the proxy solicitation. The
preliminary and definitive proxy statement and all other relevant
documents will be available, free of charge, on the SEC's website
at www.sec.gov.
The following persons are participants in any such proxy
solicitation: Eminence Capital, LLC, Eminence GP, LLC, Ricky C. Sandler, Bruce
J. Klatsky and Norman S.
Matthews. Investors and security holders of JOSB can
obtain additional information regarding the direct and indirect
interests of the participants by reading the materials to be filed
today under cover of Schedule 14A with the SEC.
Forward Looking
Statements
This press release may include forward looking statements that
reflect our current views with respect to future events. Statements
that include the words "expect," "intend," "plan," "believe,"
"project," "anticipate," "will," "may," "would" or similar words
are often used to identify forward looking statements. All forward
looking statements address matters that involve risks and
uncertainties, many of which are beyond our control. Accordingly,
there are or will be important factors that could cause actual
results to differ materially from those indicated in such
statements and, therefore, you should not place undue reliance on
any such statements. Any forward looking statements made in this
press release are qualified in their entirety by these cautionary
statements, and there can be no assurance that the actual results
or developments anticipated by us will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, JOSB or its business, operations or
financial condition. Except to the extent required by applicable
law, we undertake no obligation to update publicly or revise any
forward looking statement, whether as a result of new information,
future developments or otherwise.
Investors
Contact:
Edward McCarthy/Thomas
Germinario
D.F. King & Co.,
Inc.
(212) 269-5550
Media
Contact:
Scott Tagliarino/Samantha
Leon
ASC Advisors
LLC
(203)
992-1230
SOURCE Eminence Capital, LLC