BEN BERNANKE: Jos. A Bank Is Where I Get My Suits
But the struggling retailer has one loyal customer in Federal Reserve Chairman Ben Bernanke.
Bernanke told Time in 2009 that he buys all his suits there.
Detailing the contents of his wallet, he said:
"I've got a D.C. driver's license, my American Express card, a debit card, a Jos. [A.] Bank card where I get my suits, I have a health insurance card. And then I have a variety of other cards, phone numbers, United Airlines, frequent flyer. And I have $45...$75...$85. I'm all set."
The average Jos. A Bank suit costs around $650 before promotions like "buy one, get two free" suits. Meanwhile, more upscale labels like Armani charge thousands of dollars.
The U.S. economic problems Bernanke details in Fed meetings are also part of the reason Jos. A Bank is flailing.
"The problems come down to the investment perhaps in a job where income growth is next to nothing," said Brian Sozzi, chief equities analyst at NBG Productions. "Or, for a job interview that they may never call back."