Jerry Seinfeld knows his activist investors. Well, he knows enough about the battle that's been raging between suit retailers Men's Wearhouse and JoS A. Bank to find it "fascinating."
The final question of Seinfeld's BuzzFeed Brews with CBS This Morning interview Monday focused on his thoughts about Men's Wearhouse and JoS A. Bank's battle to acquire one another, or even another retailer all together.
"This is exciting," Seinfeld said. "I want to know, JoS A. Bank, could they advertise any more and sell any less? It's like, 'We'll give you three suits for $8. Just take it, just take it. It's crap. Nobody wants it. Get it out of here.' There's no sale big enough. It's 1,000 suits for a dollar. And then they have the money to keep advertising."
What surprised Seinfeld even more was Men's Wearhouse's fierce pursuit to acquire JoS A. Bank, something that's looking more and more likely since the hedge fund Eminence Capital joined the action and called for JoS A. Bank to submit to the merger.
"And now, Men's Wearhouse is like, 'We want more of this crap,'" Seinfeld said. "It's hilarious. The whole thing is hilarious."
Mariah Summers is a business reporter for BuzzFeed News and is based in New York. Summers reports on hospitality, travel and real estate.
Contact Mariah Summers at firstname.lastname@example.org.
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