Shares of Men's Wearhouse jumped 28% after rejecting the takeover bid of Jos. A. Bank. Shares of Men's Wearhouse increased 28% after it snubbed the USD 2.

Men's Wearhouse snubbed the USD 2.3 billion takeover offer from Jos. A. Bank just two hours after it was made publicly.

Men's Wearhouse had rejected the takeover offer of Jos. A. Bank valued at USD2.3 billion in cash as the company deemed the bid to be inadequate, said a Reuters report.

According to sources that told Reuters, US private equity firm Blackstone would be among possible bidders for Versace's minority stake.

Saks Inc Stephen Sadove was appointed to the Board of Directors of JC Penney. JC Penney Co said the Chief Executive Officer of Saks Inc, Stephen Sadove, would be joining its board of directors.

Jos. A. Bank had approached Men's Wearhouse for a possible merger although the type of tie-up was not clearly stated, reported the Wall Street Journal.

Lululemon Athletica, a yogawear manufacturer, had been looking into expansion as it sees the overseas market to have a promising growth, said a Reuters report.

Forward Investment Partners joined other private equity firms in the USD 2.8 million seed funding round for Wool and the Gang.

JC Penney named Jan Hodges as the new head of its struggling home goods section JC Penney Co Inc. had named an insider to be the new head of its struggling home goods section.

With changes abound in LVMH, investors are now beginning to review the brand purchases done by management at its heyday.