Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
r e T a i l i n g T o d a y st. simons island, ga. prefers outdoor exposure with good parking, because men tend to like getting in and out of stores quickly. "The site selection is based on demographics, and that starts where the male consumer works or where he lives," said Hensley. "The more convenient we make it for him, the more frequently he'll come back." The typical Jos. A. Bank store measures about 4,500 square feet, though some are about twice that. The chain's managers likes the storefronts to be 40 to 50 feet in width, to provide lots of visibility into the stores, says Hensley. This is important because, though Jos. A. Bank is known for tailored suits, dress shirts and sport jackets, it places sportswear up toward the front, where the color and seasonality will draw the eye. So far all of the chain's growth has been in the U.S., and this will be the case for a while, its managers say. "We think there is opportunity for 800 114 SCT / M a y 2 0 1 3 stores in the United States," said David Ullman, executive vice president and COO. "We just crossed the 600 threshold, so we still think there is ample growth opportunity here." Much of the growth will play out in a different category of store: the factory outlet shop. "We have two concepts," Hensley said. "The About two and a half years ago, the chain launched its factory outlet division; and future store growth will play out mostly in this category. first is the full-line store, and then about two and half years ago, we launched the factory store division. This sector is growing rapidly in terms of new centers being built. Most metro areas are being infiltrated by factory outlet centers, primarily being operated by Simon Property Group or Tanger Outlets." At the beginning of this year, Jos. A. Bank had 34 factory outlet stores. "When we target 800 stores, about 100 of those would be factory stores," said Ullman. Jos. A. Bank has a strong sales presence on the Internet, and it ships to some 70 countries. "We're gaining data as to where the brand is accepted outside the United States," Ullman said. "Ultimately, down the road it will help us in making our decision if we choose to expand outside the United States." Jos. A. Bank was founded in 1905 as a clothing manufacturer serving department stores in New York City and elsewhere on the East Coast. The company did not get into retailing until the late 1950s. When the chain reached 20 stores, the Quaker Oats Co. acquired it, in the early 1980s. Quaker was at the time a conglomerate with other retail brands. Quaker held Jos. A. Bank for less than a decade. A leveraged buyout was followed by an initial public offering in 1994. The store count grew to about 100. By 2000 the marketplace was ripe for Jos. A. Bank's offerings: men's tailored clothing with a traditional design, Hensley says. The disappearance of small specialty shops for men created a vacuum in the middle of the marketplace, he says, and tailored clothing in department stores was on the decline. "The timing was and still is right," Hensley said, "for us to be aggressive in going after the American businessman." SCT