This story has been updated from 1:24 p.m. with quotes from the CEO.
The menswear retailer announced late Friday that it is considering "strategic opportunities to enhance shareholder value," which include potential acquisitions. It hired investment banking firm Financo, according to a press release.
The Hampstead, Md.-based Jos A. Bank said Friday it was looking at various "opportunities," including selective, long-term accretive acquisitions. The company intends to retain capital not needed for operations, it said. It did not give a timetable for any acquisition.But Mark Montagna, an equity analyst at Avondale Partners, questions the real motive for the release. He says the likelihood of an acquisition for Jos A. Bank is minimal. Montagna rates the company market underperform. "Nobody on senior management has any experience with acquisitions," Montagna wrote in an email to TheStreet on Monday. "They also have no experience with wholesaling, which essentially eliminates acquisitions such as the rumor of their looking at Lucky
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