JoS. A. Bank Clothiers Strengthens Management Team with Internal Promotions
09 Giugno 2005 - 12:00PM
Business Wire
JoS. A. Bank Clothiers, Inc. (Nasdaq National Market: JOSB)
announces the promotion of two key merchandising and sourcing
executives to the titles of Vice President - General Merchandise
Manager and Senior Vice President of Inventory Management and
Merchandise Planning. Frank Barbarino has been promoted to the
position of Vice President - General Merchandise Manager for all
tailored clothing. This position was most recently held by James
Thorne who was promoted to Senior Vice President of Inventory
Management and Planning. Mr. Barbarino will be responsible for all
tailored clothing merchandising functions including design, product
development, sourcing, manufacturing, and the management of sales
and gross margin. Mr. Thorne's new position has been upgraded from
the Vice President level as part of the company's on-going effort
to position itself for continued store growth and to achieve its
goal of opening and operating 500 stores in the USA. "Frank is one
of the most innovative, aggressive, and savvy merchants that I have
ever worked with and as the GMM he will have a tremendously
positive impact on our already successful tailored clothing
business," stated R. Neal Black, Chief Merchandising Officer.
"After our associates, our inventory is our most valuable asset and
I am very pleased to be able to promote Jim Thorne, one of our most
trusted and experienced executives, to plan and manage that asset
as we go through one of the most aggressive growth plans in
retailing today," stated Robert N. Wildrick, President and CEO. Mr.
Barbarino was previously the Divisional Vice President of Worldwide
Sourcing and was responsible for the company's successful direct
sourcing campaign that cut unnecessary and redundant costs from the
supply chain. Mr. Barbarino joined JoS. A. Bank in 1999 and has
held a variety increasingly important merchandising positions,
including Merchandise Manager of Suits, during his 6 year tenure at
JoS. A. Bank. He holds a Bachelors Degree from Queens College. Mr.
Thorne is one of the most respected merchandising executives in the
tailored clothing industry. Mr. Thorne joined JoS. A. Bank in 1986
and has held a variety increasingly important merchandising
positions during his 19 year tenure at JoS. A. Bank. He holds a
Bachelors Degree from the University of North Carolina. JoS. A.
Bank Clothiers, Inc., established in 1905, is one of the nation's
leading retailers of men's classically-styled tailored and casual
clothing, sportswear, footwear and accessories. The Company sells
its full product line through 281 stores in 38 states and the
District of Columbia, a nationwide catalog, and an e-commerce
website that can be accessed at www.josbank.com. The Company is
headquartered in Hampstead, MD, and its common stock is listed on
the NASDAQ National Market under the symbol "JOSB". The Company's
statements concerning future operations contained herein are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those forecast due to a variety of factors outside
of the Company's control that can affect the Company's operating
results, liquidity and financial condition such as risks associated
with economic, weather, public health and other factors affecting
consumer spending, the ability of the Company to finance its
expansion plans, the mix and pricing of goods sold, the market
price of key raw materials such as wool and cotton, availability of
lease sites for new stores, the ability to source product from its
global supplier base and other competitive factors. These
cautionary statements qualify all of the forward-looking statements
the Company makes herein. The Company cannot assure you that the
results or developments anticipated by the Company will be realized
or, even if substantially realized, that those results or
developments will result in the expected consequences for the
Company or affect the Company, its business or its operations in
the way the Company expects. The Company cautions you not to place
undue reliance on these forward-looking statements, which speak
only as of their respective dates, and assumes no obligation to
update any of the forward-looking statements. These risks should be
carefully reviewed before making any investment decision.
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