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NEW YORK- This week, in celebration of spring, Macy’s Secret Garden campaign will be in full bloom at Macy’s stores across the country, on macys.com and in local communities nationwide. Along with an infusion of spring’s cheerful colors, garden-inspired merchandise, special promotions and events, Macy’s customers can also support a local park through a new fundraising program – Macy’s “Heart Your Park” – that kicked off on Friday, March 7.

“Spring is a time for rejuvenation, and our new Secret Garden campaign will usher in this highly-anticipated season with exciting merchandise and experiences,” said Martine Reardon, Macy’s chief marketing officer. “Capturing the season’s hottest trends in spring colors and patterns, Secret Garden also takes to the outdoors, supporting more than 550 of our nation’s parks and green spaces.”

Secret Garden Flourishes in Stores
This season, Macy’s will take customers on a stroll through a lush and magical garden, with trends that fuse fantasy with fashion, and the designers who bring it to life. Floral pieces will be sprouting up in Macy’s stores and on macys.com, in the form of fit and flare dresses, classic shifts and sweet skirts. Colors abound across the fashion spectrum, featuring rich blues, pretty pinks and coral, along with accents of clean and crisp white. Ruffle details, lace, and floral appliques add a sweet touch to the season’s hottest looks. Shoppers will also find the garden experience in home, through vibrant floral bedding, dinnerware and serveware that will make entertaining even sunnier.

Garden-inspired merchandise comes from customers’ favorite brands available at Macy’s, including Bar III, Betsey Johnson, Charter Club, French Connection, I.N.C., Ivanka Trump, Jessica Simpson, MADE Fashion Week, Martha Stewart Collection, and Tommy Hilfiger.

Macy’s “Heart Your Park”
In collaboration with the National Recreation and Park Association, the national nonprofit organization dedicated to the advancement of community parks, recreation and conservation, Macy’s Heart Your Park program aims to raise awareness and dollars for local parks nationwide.

Macy’s stores across the country have each selected a local park or green space in their community to support, with more than 550 local parks benefiting from the program. From March 7 to March 31, customers can visit their local Macy’s store and donate $1 or more at the register, and 100 percent of donations will benefit that store’s selected local park. To further spread the love, Macy’s will match customer donations across all stores, dollar-for-dollar, up to $250,000 in total. For a full list of the parks benefiting from Macy’s Heart Your Park, visit macys.com/parks.

“We are thrilled to partner with Macy’s for Heart Your Park this spring to raise awareness of the importance of local parks in strengthening community health and wellness, and environmental conservation,” said Barbara Tulipane, president and CEO of the National Recreation and Park Association. “Macy’s shares our passion for connecting and engaging local communities. We look forward to the positive impact this effort will have on community parks.”

Secret Garden Local Events
During the month of March, Secret Garden events will take place in Macy’s stores across the country, including Atlanta, Boston, Honolulu, Houston, Los Angeles, Louisville, Miami, Pittsburgh, Salt Lake City and Seattle. Events will feature Secret Garden fashion presentations, family fun day activities, cooking demonstrations and more. Select stores will also host a “Bouquet of the Day,” a live floral installation created by a renowned local florist. For more information on local events, visit macys.com/secretgarden.

Macy’s Spin to Win – $100,000 in Prizes
From March 5 to March 30, customers can join in the fun by playing the Macy’s Spin & Win game on Macy’s mobile app for a chance to win a digital gift code worth $10, $25, $100 or $500. Ends 3/30/14. No purchase necessary. Text “APP” to 62297 to download Macy’s mobile app. Message and data rates may apply. For terms, conditions and the privacy policy, visit macys.com/connect.

About Macy’s
Macy’s, the largest retail brand of Macy’s, Inc. (NYSE:M), delivers fashion and affordable luxury to customers at approximately 800 locations in 45 states, the District of Columbia, Puerto Rico and Guam, as well as to customers in the U.S. and more than 100 international destinations through its leading online store at macys.com. Via its stores, e-commerce site, mobile and social platforms, Macy’s offers distinctive assortments including the most desired family of exclusive and fashion brands for him, her and home. Macy’s is known for such epic events as Macy’s 4th of July Fireworks® and the Macy’s Thanksgiving Day Parade®, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. Macy’s flagship stores — including Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, Dadeland in Miami and South Coast Plaza in southern California — are known internationally and leading destinations for visitors. Building on a more than 150-year tradition, and with the collective support of customers, employees and Macy’s Foundation, Macy’s helps strengthen communities by supporting local and national charities giving more than $70 million each year to help make a difference in the lives of our customers.

About National Recreation and Park Association
The National Recreation and Park Association is a national not-for-profit organization dedicated to advancing park, recreation and conservation efforts that enhance quality of life for all people. Through its network of 40,000 recreation and park professionals and citizens, NRPA encourages the promotion of healthy and active lifestyles, conservation initiatives and equitable access to parks and public space. For more information, visit www.NRPA.org. For digital access to NRPA’s flagship publication, Parks & Recreation, visit www.parksandrecreation.org.

This news is courtesy of www.macys.com

Last night, H&M Studio, the new name for H&M’s seasonal collection of key pieces, presented its autumn 2014 catwalk show during Paris fashion week. Held at the Grand Palais in front of 600 guests, including Miranda Kerr, Jessica Alba and Solange Knowles, models such as Andreea Diaconu, Joan Smalls, Izabel Goulart and Saskia De Brauw wore the look of the season: nonchalant attitude of the 21st century, mixing feminine with masculine styles. The collection will be available in around 250 stores worldwide, as well as online, from September 4, 2014.

The mood of the collection was dominated by a mix of feminine with masculine, with slip dresses and draped tops worn under men’s blazers,
biker and aviator jackets. Fabrics included silk crepe, silk satin, fine cashmere and velvet. Fake fur coats added texture with detailing from
sequin and stone embroidery. For the show, the historical Grand Palais was transformed into an abstract cityscape, with graphic architectural lines and billboards punctuating the space. At the head of the space was a stage, on which the upcoming French star HollySiz gave a live performance throughout the show.

Meanwhile the global audience at hm.com had exclusive access to the event with French fashion TV expert Mademoiselle Agnes. Before the show
was live-streamed, Mademoiselle Agnes chatted live with celebrities and VIP guests, as well as taking the cameras backstage, giving the global
audience a truly front row experience. H&M Studio is the new name for H&M’s key seasonal fashion collection.

With its own dedicated design team, each season H&M Studio will offer a limited-edition collection of the hottest looks and statement pieces.
“I loved the mix of feminine and masculine for autumn at H&M Studio. Slip dresses and draped tops are the new essentials, especially when worn with blazers or biker jackets. It’s about taking the Parisian spirit and bringing it to the H&M world,” says Ann-Sofie Johansson, Head of Design, New Development.

“It’s so good to be at H&M Studio in Paris to see this limited edition collection. H&M is such a wonderful brand – it’s affordable, wearable, and
very fashion forward”, says Miranda Kerr. “I love H&M – it’s so exciting to be here, so much fun. The way I dress I mix things together, and I love to shop at H&M, I always find something new when I’m there”, says Jessica Alba.

This news is courtesy of www.hm.com

CINCINNATI–Top celebrity stylist, busy mom of two teens and Try it & Love it spokesperson, Irma Martinez invites you to embrace spring by freshening up your home, trying the latest beauty products, and loving new fashion trends! The spring season is the perfect time to refresh the family’s closets, update your beauty routine and add in new fashion must-haves. To make the seasonal transition a breeze, Irma Martinez and The Procter and Gamble Company (NYSE:PG) are offering bright ideas with innovative products to help families spring forward! To help get everyone springtime ready, Irma shares her favorite tips below:

This season is a great time to refresh la casita! Complete all the home improvement projects that were put on the back burner during the winter. Fix that broken floor tile, hanging cabinet door or leaky sink once and for all. After conquering those much needed home repairs, clean any dust and debris with the Swiffer® BISSELL SteamBoost™. Its steam activated cleaning pads tackle tough messes, giving floors a deep clean.

Storing away winter favorites can be tedious and overwhelming. Start off this season by tackling the hardest task of them all – washing all winter apparel! Before putting all winter wear in storage, make sure to wash them with Gain® with Febreze Freshness™ Thai Dragon Fruit™ Liquid Detergent. It helps get rid of that unwanted storage smell and gives two weeks of fantastic freshness!

New seasons means new beauty routines! As days become warmer, go for a lightweight make-up routine and try Olay® Fresh Effects {BB Cream!} Skin Perfecting Tinted Moisturizer with Sunscreen. It not only moisturizes, but also brightens, evens skin tone and protects it with SPF 15. Look extra coqueta by adding a bold lip and bright nail color! Personally, I love COVERGIRL® Outlast Stay Brilliant Glosstinis because these nail colors last as long as seven days with no top coat required. Plus, they are available in fun springtime shades!

When it comes to must-have spring styles, my favorite trend is a floral skirt! This look can be dressed-up with a blazer or toned-down with a pair of patent leather flats. With either look, get legs ready for the warmer days ahead! Gillette® Venus & Olay ™ Razor with Sugarberry Scent keeps legs silky soft and locks in the skin’s moisture for less dryness. Hello skirt season!

Last, but not least, remember to update everyone’s exercise routine! Go out for a morning run or stroll through the park with family and friends. Not only will you get a great workout, but it is a perfect time to create fun, lasting memories with loved ones during this bright and beautiful season!

To help families get started with spring cleaning this month, P&G is offering more than $140 in savings through P&G brandSAVER®, which was distributed on March 2. Families will find coupons to try and love the high performing products needed to spruce up your self, family and home this season.

For more on products you’ll love, check out the Try it & Love it website (PGTryit.com). You can learn more about the brands you trust, and take advantage of product ratings and videos and receive great savings via coupons and samples.

About Procter & Gamble
P&G serves approximately 4.8 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Ace®, Always®, AmbiPur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Duracell®, Fairy®, Febreze®, Fusion®, Gain®, Gillette®, Head & Shoulders®, Iams®, Lenor®, Mach3®, Olay®, Oral-B®, Pampers®, Pantene®, Prestobarba®, SK-II®, Tide®, Vicks®, Wella®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide.

This Press Release is courtesy of www.pg.com

NEW YORK, – Avon Products, Inc. (NYSE: AVP) today announced that it has entered into an agreement through which KORRES has granted Avon exclusive rights to develop, manufacture and market KORRES products in Latin America. Created by Greek pharmacist George Korres, KORRES is a Greek skincare brand established for its highly efficacious natural formulations.

This long-term strategic alliance includes all major markets where Avon operates in Latin America, and provides Avon the option to purchase all of the intellectual property rights to the KORRES products in that region.

“Latin America is a growing beauty market and a major component of the Avon portfolio. I’m very pleased that through this strategic alliance, we can leverage Avon’s extensive network and capabilities to bring the KORRES brand and products to more women across Latin America,” said Sheri McCoy, Chief Executive Officer, Avon Products, Inc.

“Latin America has always been of interest to us. We feel there is a unique opportunity to reach consumers who share our values and philosophy; Avon is a strategic partner that can help us start this wonderful journey,” said KORRES Founder George Korres.

“We are delighted to be partnering with KORRES. It is the perfect fit to Avon’s business in Latin America. KORRES is a beauty brand that is passionate about the power of natural extracts and ingredients,” said Fernando Acosta, Senior Vice President and President, Latin America, Avon Products, Inc. “This alliance brings some fabulous, highly efficacious products that our consumers will love. We look forward to a successful relationship with KORRES.”

Latin America is Avon’s largest business unit, accounting for nearly half of the company’s revenues.

Born out of Greece’s oldest herbal pharmacy, the brainchild of a pharmacist and a chemical engineer, KORRES is a natural skincare brand with over 400 products sold in 30 countries worldwide. Its philosophy remains the same as in its pharmacy days, rooted in the use of natural and/or certified organic ingredients of the highest quality; skin- and environmentally-friendly products with clinically tested efficacy; products that are affordable for everyday use yet of interesting aesthetics that can ‘inspire & make us happy.’

About Avon
Avon, the company for women, is a leading global beauty company, with nearly $11 billion in annual revenue. As one of the world’s largest direct sellers, Avon is sold through more than 6 million active independent Avon Sales Representatives. Avon products are available in over 100 countries, and the product line includes color cosmetics, skincare, fragrance, fashion and home products, featuring such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, and mark. Learn more about Avon and its products at www.avoncompany.com.

About KORRES
KORRES is a Greek skincare brand established in 1996 out of the oldest homeopathy pharmacy in Athens. The first KORRES product was an aromatic herbal syrup with honey and aniseed, a recipe inspired by rakomelon, a warming spirit-with-honey concoction, which George’s grandfather used to favor in his hometown on the island of Naxos. Learn more at www.korres.com.

This Press Release is courtesy of www.avoncompany.com

HAMPSTEAD, Md.- Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB) (“Jos. A. Bank” or the “Company”) said today, in a letter to Douglas S. Ewert the President and Chief Executive Officer of The Men’s Wearhouse, Inc. (NYSE:MW), that, “In our Board’s continuing effort to evaluate which alternative transaction would create the greatest value for Jos. A. Bank shareholders, and on the basis of your unsolicited revised proposal indicating a willingness to pay a higher price subject to certain conditions, our Board has authorized our meeting with you to establish a process that will enable you to advise our Board as to the highest price you are prepared to pay in an acquisition of Jos. A. Bank.”

The letter also states that its Board of Directors, after careful consideration and discussions with its financial and legal advisors, has unanimously rejected The Men’s Wearhouse Inc.’s $63.50 per share unsolicited offer as inadequate, after giving effect to the Eddie Bauer acquisition and related issuer tender offer, and not in the best interests of Jos. A. Bank stockholders. The Board recommends that the Company’s stockholders reject the Offer and not tender their shares into the Offer.

The reasons for the Board’s recommendations regarding the amended tender offer price and authorization of a meeting with Men’s Wearhouse are set forth in a Schedule 14D-9 amendment being filed by the Company today with the Securities and Exchange Commission, which is also being disseminated to stockholders.

The Jos. A. Bank Board continues to believe that significant value will be created for shareholders in its proposed acquisition of Eddie Bauer and the related issuer tender offer.

Also, Jos. A. Bank announced that the Federal Trade Commission today granted early termination of the waiting period under the Hart−Scott−Rodino Antitrust Improvements Act of 1976 with respect to the pending transaction between Jos. A. Bank and Golden Gate Capital, under which Jos. A. Bank will acquire Everest Holdings LLC, parent company of the Eddie Bauer brand.

It further stated that the financing for the Jos. A. Bank acquisition of Everest is proceeding on track, and that the Company expects to market and place the high yield bonds promptly. The bridge loan committed to by Goldman Sachs remains fully committed and, subject to its terms and conditions, will be available to Jos. A. Bank to finance the Everest transaction.

As a separate matter, Jos. A. Bank continues to provide additional information regarding its operations and detailed information on competitive dynamics in the markets in which it competes with Men’s Wearhouse to the FTC in response to the previously disclosed second request Jos. A. Bank received from the FTC on February 12, 2014 relating to the tender offer by Men’s Wearhouse for Jos. A. Bank.

The full text of the letter sent to Mr. Ewert follows:

I am writing on behalf of the Board of Directors of Jos. A. Bank Clothiers, Inc. in response to the press release issued by The Men’s Wearhouse on February 24, 2014 and the related Schedule TO amendment filed by MW with the Securities and Exchange Commission. The Board has met twice this week to review your revised offer carefully, including with its financial and legal advisors, and that review is ongoing.

The Jos. A. Bank Board has acted in a very careful, thorough and focused manner to evaluate which of various strategic alternatives would create the greatest value for shareholders and serve the best interests of shareholders. Given the careful attention our Board has paid to maximizing shareholder value, we strongly disagree with your characterization of our Board’s actions. Our Board continues to believe that significant value will be created for our shareholders in our proposed acquisition of Eddie Bauer and the related issuer tender offer. We are also mindful that, unlike Men’s Wearhouse’s proposal, there is no antitrust or other significant obstacle to completing that transaction.

Following our announcement of the Eddie Bauer transaction, Men’s Wearhouse made a meaningful improvement in the price of its offer to acquire Jos. A. Bank — after making no change, since November 2013, in its original $55.00 per share price, except for a small increase to $57.50 on January 6, 2014. As disclosed in our Schedule 14D-9 amendment filed today with the Securities and Exchange Commission, our Board of Directors has unanimously rejected your $63.50 per share unsolicited offer as inadequate, after giving effect to the Eddie Bauer acquisition and the related issuer tender offer, and not in the best interests of our shareholders. However, in our Board’s continuing effort to evaluate which alternative transaction would create the greatest value for Jos. A. Bank shareholders, and on the basis of your unsolicited revised proposal indicating a willingness to pay a higher price subject to certain conditions, our Board has authorized our meeting with you to establish a process that will enable you to advise our Board as to the highest price you are prepared to pay in an acquisition of Jos. A. Bank.

In our meeting, we want to discuss, among other things, the following issues relating to your proposal:

1. Due Diligence. We are prepared to provide you with a limited amount of due diligence information as you requested. However, we would like to know the precise scope of the limited due diligence you propose to conduct. Given that we are prepared to provide you with confidential nonpublic information, a draft confidentiality agreement is enclosed. We expect you will agree on appropriate safeguards with regard to competitively sensitive information. We are also prepared to make available our senior executives as you requested.

2. Transaction Structure. We would like to understand the structure you contemplate for a transaction, including, as you proposed, to provide Jos. A. Bank shareholders “the opportunity to participate in the upside of a combination through an election to receive Men’s Wearhouse stock for a portion of the consideration”.

3. Transaction Certainty. Certainty of closing is a critical issue we will want to discuss with you. Among other things, in light of the FTC’s pending second request, we will need to understand what measures Men’s Wearhouse will agree to in order to eliminate the risk to Jos. A. Bank and its shareholders that the FTC would prevent a transaction between Jos. A. Bank and Men’s Wearhouse from closing. You have consistently failed to address this issue. As part of our having a full understanding of this issue, we would want to review the material documents and presentations you have provided to the FTC.

4. Other Terms. We will provide you with a draft merger agreement that sets forth the other terms of a transaction in the next day.

5. Best and Final Offer. Promptly following completion of your limited due diligence, we would expect you to advise our Board as to your best and final offer as to purchase price and other terms, as reflected in a mark-up of the merger agreement, so that our Board can fully evaluate your offer.

Time is of essence, and we would like to understand your ability to proceed quickly with your proposal. Given the compelling nature of the Eddie Bauer transaction from a shareholder value creation standpoint, and in light of its certainty of closing, we are only prepared to give you a limited amount of time to come forward with your best offer.
Please be advised that, notwithstanding our willingness to provide you with this opportunity to address the foregoing issues, the Jos. A. Bank Board has made no determination to sell the Company, and no determination that your proposal is a Superior Proposal, as defined in our membership interest purchase agreement for the Eddie Bauer transaction.
I have instructed our advisors to contact your advisors.
Very truly yours,
Robert N. Wildrick

Encl.
Goldman, Sachs & Co. and Financo, LLC are serving as financial advisors to the Company, Skadden, Arps, Slate, Meagher & Flom LLP and Guilfoil Petzall & Shoemake, L.L.C. are serving as legal advisors and Innisfree M&A Incorporated is serving as proxy solicitor.

ABOUT JOS. A. BANK
Jos. A. Bank Clothiers, Inc., established in 1905, is one of the nation’s leading designers, manufacturers, retailers and direct marketers of men’s classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 629 stores in 44 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 under the symbol “JOSB.”

This Press Release is courtesy of www.josbank.com

NEW YORK, Basketball and celebrity superstar Shaquille O’Neal and Peerless Clothing today announced they have partnered to create a new fashion menswear collection. Shaquille O’Neal will launch exclusively at Macy’s, offering the latest fashion trends popularly priced with sizes that range from regular to Big & Tall.

The Shaquille O’Neal collection, available at 100 Macy’s stores nationwide and on macys.com starting mid-February, will include suit separates and sport coats. Individually or paired together, these pieces will make men of every size feel comfortable and well-dressed. Patterns include traditional solids, stripes and plaids, as well as more modern and unexpected sharkskin in shades of black, navy, tan and grey. Suit separates anchor the line, as they offer the opportunity to choose jacket and pant sizes perfect for customers with varied proportions. Retailing from $150 for a pant to $400 for a jacket, Shaquille O’Neal will allow the 60XL guy to shop in the same store and look just as dapper as his size 40R friend.

“Shaq is one of the biggest stars in sports with a huge fan base and following. A favorite celebrity and personality who is larger than life. Fans everywhere love Shaq for his athletic accomplishments, and his successful foray into music, movies, television and business. They love his style, passion and charisma,” said Ronny Wurtzburger, President of Peerless Clothing. “When it comes to fashion, Shaq is a trendsetter. He has strong consumer appeal among African-Americans, Hispanic-Americans, Moms who relate to his dedication to providing quality products at affordable prices, and kids who see him as their ultimate role model.”

“My interest in developing a menswear collection was based on the lack of fashion choices for Big & Tall customers and the higher prices for larger size suits,” O’Neal said. “I also was frustrated that I had to go to a Big & Tall store rather than shop with my friends at the local department or specialty store. I originally wanted to develop a more fashion-forward menswear collection at an affordable price. Once Peerless and I developed the collection, the reaction from Macy’s was so positive that we decided to make the collection in all sizes.”

The collection will be marketed online and in-store as well as through newspaper advertisements and personal appearances. Shaq also will wear the new collection on TNT’s “Inside the NBA” and on future television appearances.

“Shaquille O’Neal is one of the most iconic athletes of our time, and we are thrilled that he chose Macy’s to launch this extension of his superstar talent into the world of tailored clothing,” said Richard Arnstein, Macy’s EVP / GMM of Mens. “With his high-profile lifestyle, Mr. O’Neal understands the power of being well dressed, and this new collection of suit separates will appeal to men of any size who truly appreciate style and quality.”

“I am excited and honored to partner with Macy’s, an iconic American brand that believes in our community, to launch a collection that will be fun, elegant and classy,” O’Neal said.

This Press Release is courtesy of www.macys.com

FREMONT, Calif., Men’s Wearhouse continues to deliver world class customer service by introducing International shipping to customers in over 100 countries. Customers in the USA and around the world can now shop www.menswearhouse.com and ship directly to themselves or send gifts to friends and family regardless of what country they live in.

Men’s Wearhouse introduced International shipping in response to customer requests to do so. With this launch, the company extends its reach to existing customers who live abroad and to new customers who want to update their style by accessing the inventory of one of the largest men’s specialty retailers in the United States. With International shipping to over 100 countries, affordable shipping rates, and order totals guaranteed at time of purchase, the company has made shopping for on-trend, designer men’s tailored and casual clothing easy and affordable for the International community.

“We have customers around the world that trust us as their menswear fashion expert but the only way they could shop with us was if they were based in the USA,” said Susan Neal, EVP at Men’s Wearhouse. “Now with our International shipping option, our customers will be able to shop and ship to over 100 countries anytime and anywhere that is convenient for them. We are thrilled to offer this service and to introduce Men’s Wearhouse to customers around the world.”

This Press Release is courtesy of www.menswearhouse.com

HAMPSTEAD, Md. and BELLEVUE, – Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB) (“Jos. A. Bank” or the “Company”) and Golden Gate Capital (“Golden Gate”) today announced that Jos. A. Bank has entered into a definitive agreement with Everest Topco LLC (“Everest Topco”), a portfolio company of Golden Gate, under which Jos. A. Bank will acquire Everest Holdings LLC (“Everest”), parent company of the Eddie Bauer brand.

Issuer Tender Offer: The Company also announced that it will promptly commence an issuer tender offer to acquire up to 4.6 million of its common shares, or 16.4% of its outstanding shares, at a price of $65 per share, or an aggregate of up to $300 million. The issuer tender offer is conditioned on, and would close promptly following completion of, the Eddie Bauer acquisition.

Terms of Acquisition: The purchase price for Eddie Bauer consists of a combination of $564 million in cash and approximately 4.7 million new shares of common stock of Jos. A. Bank, issued to Everest Topco at $56 per share, a premium to the pre-announcement share price. The final share count is subject to adjustment based on the number of shares tendered in the issuer tender offer. Everest Topco will also have the right to earn up to an additional $50 million in cash based on Eddie Bauer’s EBITDA for fiscal 2014. The purchase price represents a multiple of approximately 1x 2013E revenue and 9.5x 2013E Adjusted EBITDA, including $25 million of potential pro forma synergies.
Under the terms of the Agreement, Jos. A. Bank will have the right to terminate its agreement to acquire Eddie Bauer in the event an unsolicited offer is made to acquire Jos. A. Bank that the Company’s Board determines would reasonably be expected to create greater value for Jos. A. Bank’s shareholders than the Eddie Bauer transaction and issuer tender offer.

Following the closing of the Eddie Bauer acquisition and issuer tender offer, Everest Topco will own approximately 16.6% of the Company’s outstanding shares and will have the right to designate two directors on the Company’s Board of Directors.

Eddie Bauer Has Long Been of Interest to Jos. A. Bank: As the Company has publicly stated, Jos. A. Bank has been engaged in an intensive process over the last two years to identify and review high potential acquisition candidates that would enable the Company to leverage its core competencies and deliver immediate and long-term value to its shareholders. Eddie Bauer was one of the first acquisition candidates considered by Jos. A. Bank.

The Company contacted Golden Gate on several occasions to discuss a possible acquisition of Eddie Bauer, first in early 2012, a number of times thereafter and again several months before making its offer for Men’s Wearhouse in September 2013. Until recently, Golden Gate was not prepared to consider a transaction involving Eddie Bauer. However, given Eddie Bauer’s accelerated momentum and the strategic merits of this transaction, the Company was able to reach an agreement with Golden Gate and is very pleased to be announcing this acquisition today.

Under Golden Gate’s ownership and the leadership of the strong management team installed in mid-2012, Eddie Bauer has achieved a substantial business turnaround and is today a preeminent active, outdoor and lifestyle brand for men and women. Founded in 1920, it is the largest vertically integrated U.S. retailer dedicated to the outdoor enthusiast – a passionate and loyal customer base. Eddie Bauer also has a significant global presence. For the year ended December 31, 2013, Eddie Bauer has estimated its revenue to be between $885 million and $895 million and adjusted EBITDA to be between $61 million and $65 million.

Highly Compelling and Accretive Combination: The acquisition of Eddie Bauer solidifies Jos. A. Bank’s leadership in men’s apparel and adds new categories such as women’s apparel and footwear, to create a powerful, diversified, multi-branded retail platform. While the two brands will be run independently, the combined company is expected to benefit from significant synergies, including approximately $25 million of identified process and infrastructure savings expected to be realized in 2015. Following completion of the Eddie Bauer acquisition and the issuer tender offer, the Company will continue to have a prudent capital structure, which can support future strategic acquisitions and internal growth initiatives.

The Eddie Bauer acquisition will significantly accelerate Jos. A. Bank’s growth and will be immediately accretive. In 2014, the combined company is expected to generate in excess of $2.1 billion in revenue, $255-265 million of Adjusted EBITDA and $3.20-3.40 of Adjusted EPS. In 2015, revenue is expected to be in excess of $2.2 billion, with Adjusted EBITDA in the range of $325-340 million and $4.65-4.90 of Adjusted EPS, including the impact of $25 million of synergies mentioned above.

Together, the combined company will pursue a series of initiatives to drive long-term growth and margin expansion, including growing store count, driving store productivity improvement, pursuing product enhancement initiatives and new categories, further strengthening both companies’ direct businesses, pursuing additional licenses and global expansion.
“We have long admired the Eddie Bauer brand and its widespread appeal among those with active lifestyles and excitement about the outdoors, a large and growing customer base that overlaps significantly with ours. Based on the success of Eddie Bauer’s turnaround and the outstanding opportunities a combination of our companies provides, we believe this transaction ideally positions Jos. A. Bank for the future, and Golden Gate’s investment in our Company and participation on our Board is a strong endorsement of our plan,” said Robert N. Wildrick, Chairman of Jos. A. Bank. “I look forward to working with the two exceptional CEOs who lead these companies, Neal Black at Jos. A. Bank and Mike Egeck at Eddie Bauer, to capitalize on the combined strengths of the businesses and the substantial synergies between them in order to drive significant near and long-term growth and value creation.”

Neal Black, CEO of Jos. A. Bank, said, “Bob Wildrick and I have spoken for a number of years about the potential of acquiring Eddie Bauer and the strong strategic sense it makes for our Company. With this transaction, two historic 20th century American apparel brands, dedicated to quality, which have been serving different lifestyle aspects of a demographically similar family of customers, now combine to leverage their legacies and their strengths. I am very excited to see this vision come alive and to work with Mike Egeck and his team. The addition of Eddie Bauer provides us with clear avenues for strong growth and expansion for both of our businesses now and in the years ahead, in terms of product offering, store count, global distribution and direct sales. In short, we believe a diversified portfolio in specialty retail is a winning formula for investors and we are eager to start our work together.”

Mr. Wildrick continued, “Jos. A. Bank remains committed to maintaining a strong balance sheet, enabling us to return capital to our shareholders through a repurchase that creates immediate earnings accretion and reflects our Board’s and management’s strong belief in the intrinsic value of Jos. A. Bank. We will also continue to be able to invest in the future growth of both Jos. A. Bank and Eddie Bauer, which will enable us to further enhance the value of our combined company.”
Mr. Egeck, CEO of Eddie Bauer, said, “Over the course of my career, I have followed the growth and success of Jos. A. Bank. On behalf of our entire team, we are excited to join forces and accelerate our progress by benefitting from the exceptional opportunities provided by the combination of our companies. We are very proud of what we have achieved by refocusing Eddie Bauer on its heritage in serving outdoor enthusiasts and leveraging innovation and product expertise. We feel confident that our growth and success will continue as part of Jos. A. Bank and we look forward to working with Bob Wildrick, Neal Black and the Jos. A. Bank Board and management team.”

Josh Olshansky, Managing Director at Golden Gate Capital, said, “Eddie Bauer is a clear success story, with the potential for significant growth as part of a larger enterprise. It has been an exceptional experience to work with Mike Egeck and his team to enable Eddie Bauer to so dramatically improve its performance, and we are excited to be able to participate in its ongoing growth through our investment in Jos. A. Bank. Bob Wildrick, who drove great success over many years at Jos. A. Bank, has a clear vision for the future of the combined company. We look forward to working with Bob, the other directors of Jos. A. Bank, and the two enormously talented CEOs of the brands, Neal and Mike, and assisting in any way we can to enable the companies to benefit from each other’s strengths, achieve meaningful synergies, and deliver strong growth into the future.”

Mr. Wildrick concluded, “The Jos. A. Bank Board of Directors reviewed very carefully a number of strategic alternatives in addition to the Eddie Bauer transaction, including a possible acquisition of Men’s Wearhouse and the sale of the Company to Men’s Wearhouse. We are convinced that our transaction with Eddie Bauer and the issuer tender offer provide the greatest value creation opportunity for Jos. A. Bank shareholders. At the same time, the Company’s Board has preserved the ability to enter into an alternative transaction that creates greater value for our shareholders should such a transaction be proposed.”
Jos. A. Bank’s right to terminate its agreement to acquire Eddie Bauer in order to accept a superior proposal is subject to payment of a fee of less than 3% of Jos. A. Bank’s equity value based on Men’s Wearhouse’s current tender offer price. The closing of the Eddie Bauer acquisition is subject to the satisfaction of customary closing conditions, including the expiration of the Hart-Scott-Rodino waiting period. Closing of the Eddie Bauer acquisition is a condition to completion of the tender offer.

Financing
The Eddie Bauer acquisition will be financed through a combination of cash on the balance sheet, committed debt financing provided by Goldman, Sachs & Co. and new equity issued to Everest Topco at $56 per share. The issuer tender offer will be financed by cash on the balance sheet.
Goldman, Sachs & Co. and Financo, LLC are serving as financial advisors to Jos. A. Bank, and Skadden, Arps, Slate, Meagher & Flom LLP and Guilfoil Petzall & Shoemake, L.L.C. are serving as its legal advisors. Kirkland & Ellis LLP is serving as legal advisor to Golden Gate Capital and Eddie Bauer.

This Press Release is courtesy of www.josbank.com

SCOTTSDALE, Ariz.-The Beauty Changes Lives Foundation in partnership with Wella’s Hairdressers at Heart will begin accepting applications for the Spring 2014 Vidal Sassoon Professional Beauty Education Scholarship Program at www.beautychangeslives.org/scholarships. Twenty scholarships will be awarded, including 10 basic scholarships for individuals pursuing a beauty and wellness career and 10 advanced scholarships for licensed professionals who want to take their career to a new level.

Since launching the first competition in 2013, the Beauty Changes Lives Foundation has awarded nearly $200,000 in scholarships, funded by Wella, the salon professional division of P&G. Wella has committed to funding $1.5M in scholarships, administered by the Beauty Changes Lives Foundation, through 2017.

Basic scholarships fund 50 percent of tuition (up to $10,000) at qualified cosmetology schools (http://beautycareerlink.beautyschools.org). Advanced scholarships cover travel, lodging, and fees for a five-day course at a Sassoon Academy in North America. A judging panel of beauty industry experts will evaluate each applicant’s 500-word essay or three-minute video submission.

The Vidal Sassoon Professional Beauty Scholarship Program honors the late Vidal Sassoon’s legacy as a visionary, entrepreneur and advocate for lifelong professional learning. Scholarships are awarded to individuals who embody Sassoon’s heritage of creativity, craftsmanship, professional drive and love of learning. A non-profit arm of the American Association of Cosmetology Schools, the Beauty Changes Lives foundation serves as the administering body and coordination liaison for the scholarship program.

The application window for the spring competition closes on Tuesday, April 1, 2014 and winners will be announced in May. In 2014, the first recipients of Vidal Sassoon Professional Beauty Education Scholarship Programs will begin graduating beauty school. “It is amazing to see how individuals can change their career and transform their life in about a year via the gift of education,” said Lynelle Lynch, president of the Beauty Changes Lives Foundation.

This Press Release is courtesy www.pg.com

NEW YORK, – The ANNpower Vital Voices Initiative announced today that it is launching a search in the United States, Puerto Rico, and Canada to identify the next generation of female leaders. Now through March 1, 2014, high school sophomores and juniors can apply at ANNpower.org for the opportunity to become an ANNpower Fellow and receive leadership training and mentorship by global women leaders. ANNpower is a partnership between ANN INC. (NYSE: ANN), the parent Company of Ann Taylor and LOFT, and Vital Voices Global Partnership.

50 young women will be selected and invited to the ANNpower Vital Voices Leadership Forum in Washington, D.C., June 16 – 19, 2014, where they will receive leadership training from influential women leaders who are part of the Vital Voices Global Leadership Network, as well as executives from ANN INC., including the Company’s President and CEO, Kay Krill. The Forum’s curriculum equips these aspiring young leaders with the training and mentorship they need to realize their full potential as future leaders. Armed with these new skills, the Fellows will then return to their communities to create projects to affect change and apply for project grants to put their ideas into action. ANNpower Grants will be awarded in the Fall of 2014, and winning Fellows will spend the school year implementing their projects and receiving mentoring from ANN INC. associates.

“We look forward to welcoming our next class of ANNpower Fellows,” said Kay Krill, President and CEO, ANN INC. “These girls are so committed to making a difference in their communities and the world. I have so much confidence in the Fellows we have seen come through the program and cannot wait to be further inspired by this next group of young women.”

“ANNpower Fellows are passionate and innovative trailblazers implementing truly effective and sustainable programs in their communities,” said Alyse Nelson, President and CEO of Vital Voices Global Partnership. “We are proud to partner with ANN INC., together providing unique and life-changing opportunities for these young women leaders.”

Selected Fellows will also have the opportunity to participate in high profile global leadership events throughout the year. This past year, six ANNpower Fellows were given the once-in-a-lifetime opportunity to witness history in the making and travel to Burma to attend the Women’s Forum Myanmar, the first of its kind in the country. During the nine-day trip, the Fellows engaged with global women leaders while immersing themselves in the Burmese culture, a country which is undergoing rapid transformation as it opens up to dialogue and exchange both domestically and regionally.

“Being an ANNpower Fellow has been an amazing opportunity that has shaped who I am today. I learned so much by participating in this historic event, hearing stories from influential world leaders like Aung San Suu Kyi and Melanne Verveer. The experience was extremely powerful and I left inspired to do more with the project I’m implementing in my community.” – Emily Kosse, 2012 ANNpower Fellow and Grantee.

During the months of January and February, Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores across the U.S., Puerto Rico, and Canada will support the search for the next generation of leaders in store with the ANNpower call-to-action: “Know a girl who wants to change the world?” Additionally, the 50 young women selected will received a special discount card redeemable for two years at Ann Taylor and LOFT.

For more information about the ANNpower Vital Voices Initiative or to apply to become an ANNpower Fellow, please visit ANNpower.org.

This Press Release is courtesy of www.anninc.com

New York, NY – Banana Republic and Finnish fashion and design house Marimekko announce the Banana Republic Marimekko Collection – a limited-edition capsule that uniquely marries Banana Republic’s modern, American style with some of Marimekko’s most iconic textile designs – offering a spirited collection of dresses, separates and accessories for women that will make her summer wardrobe “pop.” The women’s capsule collection launches exclusively at select Banana Republic locations worldwide and online beginning in late May 2014.

Marimekko first made headlines in the United States when Jacqueline Kennedy donned a number of the brand’s iconic printed dresses during the 1960 U.S. presidential campaign. Today, Marimekko’s vibrant designs still resonate with celebrity tastemakers and consumers alike.

The Marimekko brand has become world-renowned for an artistic approach to print-making. Marimekko’s team of artists juxtapose cheerful, fresh prints, creating whimsical patterns and textiles that are rich in variation, yet timeless in design.

“Marimekko’s unique design of pattern and color has always inspired me as a designer,” says Banana Republic Vice President of Women’s Design, Melloney Birkett. “With this summer capsule, we wanted to create a collection that marries Marimekko’s iconic prints with our signature silhouettes. We were inspired by Marimekko founder Armi Ratia’s motto of, ‘Stand out from the rest,’ and we designed a collection of must-have summer standouts.”

The near 25 piece apparel and accessories women’s collection blends some of the most signature items from both brands, including Banana Republic’s iconic Hampton pant in Marimekko’s heroic black and white polka dot print. Items range from an architecturally designed cotton tunic with a plunging neckline, to a billowing maxi dress, to a dramatic full skirt – offering a versatile summer capsule that marries culture with style.

The collection’s featured patterns, created by three of Marimekko’s storied designers, each tell a unique story through distinctive prints. From intriguing landscapes and folk-inspired art, to circular dots that dance in a single file, the prints splash the capsule with bright hues alongside classic black and white.

“At Marimekko, we are inspired by emotions. Life springs from opposing forces, and the desire to contradict emotions – happy with sad, energetic with relaxed – is what makes our prints so unique,” says Marimekko Creative Director, Minna Kemell-Kutvonen. “It was a delight to know Banana Republic finds our designs as striking as we do. Each of the iconic prints selected has a wonderful, joyful story – and with Banana Republic we are excited to continue to bring that joy to countless people around the world.”

Apparel includes petites and will range in price from $39.50 (tank top) – $140 (dress); accessories range from $39.50 (clutch) – $98 (shoes).

This Press Release is courtesy www.gapinc.com

Arlington, VA – The American Apparel & Footwear Association (AAFA) today welcomed the U.S. Senate introduction of the Affordable Footwear Act, common sense legislation that would eliminate the hidden and regressive tax on most low-cost and children’s shoes. The Affordable Footwear Act (S. 1633) was introduced today in the U.S. Senate by Senators Maria Cantwell (D-WA) and Roy Blunt (R-MO), and co-sponsored by a bipartisan group of Senators Claire McCaskill (D-MO), Jerry Moran (R-KS), Amy Klobuchar (D-MN), Pat Roberts (R-KS), Jeff Merkley (D-OR) and Mike Johanns (R-NE).

“If there was ever an opportunity for Washington to improve its public image with the American people, the Affordable Footwear Act is it,” said AAFA President and CEO Kevin M. Burke. “With today’s introduction, the Senate and House now have a valuable opportunity to work together in a bipartisan way and offer hardworking American families a real cost savings at the cash register.”

The Affordable Footwear Act will ease the tax burden on American consumers who unknowingly pay more than 25 percent beyond the cost of a pair of shoes at retail to cover the import duty, or shoe tax, on shoes made outside of the United States. In 2012, more than 98 percent of the shoes purchased in the United States were produced outside the United States, so there is no way for hardworking American families to avoid this out dated tax.

“Once passed by both chambers and signed into law, the Affordable Footwear Act will eliminate the hidden taxes on low-cost and children’s shoes and create valuable footwear jobs right here in the United States,” Burke said. “We will continue working to pass this common sense legislation as soon as possible.”

American families in the market for affordable and low-cost shoes for themselves and their children pay a higher import duty, as high as 65.7 percent, than if they were to purchase luxury brand shoes.

After its passage, the Affordable Footwear Act would eliminate about $800 million in duties on children’s and low-cost shoes out of the $2.3 billion in total duties collected on imported shoes in 2012. Undeniably, shoes are a life necessity, and the hidden and regressive shoe tax places too high a burden on hardworking American families at a time when they can least afford it.

While the Affordable Footwear Act eliminates the import duties on low-cost and children’s footwear no longer made in the United States, AAFA recognizes that there remains a small, but vibrant, U.S. footwear manufacturing industry. The Affordable Footwear Act protects this industry while helping U.S. consumers.

Quick passage of the Affordable Footwear Act will be a positive step towards restoring consumer confidence, increasing retail sales, and protecting vital jobs in the U.S. footwear industry.
COURTESY OF AMERICAN APPAREL AND FOOTWEAR ASSOCIATION

The world of fashion is extremely dynamic with lots of shows coming up especially in the Manhattan Fashion District of New York.