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Ranking Arizona: Top 10 men's clothing stores for 2019 - AZ Big Media

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Ranking Arizona: Top 10 men's clothing stores for 2019 - AZ Big Media

Ranking Arizona: Top 10 men's clothing stores for 2019 - AZ Big Media

Posted: 22 Jun 2019 12:00 AM PDT

Here are the Top 10 men's clothing stores and tailors in Arizona, based on public voting for the 2019 edition of Ranking Arizona, the state's biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend doing business?

Don't see your favorite on the list or do you want to make sure your favorite stays on the list? To make your vote count in the 2020 edition of Ranking Arizona, click here to vote.

Want to buy a copy of the 2019 edition of Ranking Arizona? Click here.

Here are the Top 10 men's clothing stores and tailors in Arizona, as featured in the 2019 edition of Ranking Arizona:

Men's fashion

1. The Clotherie

Background: The Valley's most awarded men's fashion boutique, The Clotherie has been recognized by everyone from Esquire to MR magazines and named the "Best Men's Retailer" for 17 consecutive years by Ranking Arizona magazine. Founded in 1969, The Clotherie is a place for men of all ages to shop a carefully curated collection of the world's finest luxury clothing and sportswear. The Clotherie strives to ensure that all customers, including a younger demographic, will look as good on the weekends as they do in the office.

2. Carter's Men's Clothing

3. Brothers Tailors

4. Davinci Luxe

5. Patrick James

6. Boss Hugo Boss

7. Brooks Brothers

8. Tommy Bahama

9. Moda Georgio

10. Jos. A. Bank

Tailors

1. Brothers Tailors

Background: Brothers Tailors specializes in bespoke and custom clothing and men's ready-wear clothing — custom and bespoke and ready-wear suits, sport coats, tuxedos, dress and sport shirts, and slacks. Brothers Tailors is the official wardrobe provider of the Phoenix Suns' broadcast team. Brothers Tailors does tailoring for all men's and women's wardrobe items.

2. Danese Creations

3. Artful Tailoring Bespoke & Custom Clothier

4. Ali's Fashion Design

5. Az Alterations

6. XPress Tailoring

7. Janine's Alterations

8. Hem and Her

9. Valenti Custom Tailoring

10. Phoenix Custom Tailors

Dallas men's clothing brand J. Hilburn hires new CEO from the Worth Collection - Dallas News

Posted: 01 Jul 2019 12:00 AM PDT

Dallas-based online men's custom clothier J. Hilburn has a new CEO with a background in direct-to-consumer retailing. 

Dave DeFeo has been named chief executive succeeding Andy Janowski, who had been in the job since April 2018 when co-counder Veeral Rathod resigned. The company said Janowski will go back to being chairman.

DeFeo was most recently the CEO of Worth Collection, where he led the women's luxury fashion apparel private brand for more than a decade. During his time at Worth, the business grew significantly, and it was sold in 2016 to private equity firm New Water Capital. 

 J. Hilburn, which operates through a network of 2,000 personal stylists, is a business "with tremendous upside," DeFeo said in a statement. The company, founded in Dallas in 2007, has declined to give sales results, but when it did, J. Hilburn annual sales were in the range of $60 million.

Barneys explores possible July bankruptcy filing as it grapples with rent hike at Manhattan flagship - CNBC

Posted: 13 Jul 2019 12:59 PM PDT

Luxury retailer Barneys New York is making preparations for a bankruptcy filing that could come as soon as this month, people familiar with the matter tell CNBC.

Barneys, which is facing a liquidity crunch spurred by a rent hike at its Manhattan flagship, has engaged law firm Kirkland & Ellis and financial advisers a M-III Partners to assist with the potential preparations, the people said. The advisers are exploring a range of options that include bankruptcy, as well as ones that would help it avoid a bankruptcy filing, such as a sale or securing further financing, the people said.

The people therefore cautioned that while Barneys is exploring a bankruptcy filing, one is far from certain.

A spokesperson for Barneys told CNBC, "At Barneys New York, our customers remain our top priority and we are committed to providing them the excellent services, products, and experiences they have come to expect." The spokesperson added that, "our Board and management are actively evaluating opportunities to strengthen our balance sheet and ensure the sustainable, long-term growth and success of our business."

Barneys is just one of many department stores that is struggling as shoppers now buy online or from brands directly. Nordstrom is trading nearly $20 a share lower than a $50 a share buyout offer it rejected two years ago as too low. Saks-owner Hudson's Bay Company is considering going private after its shares fell nearly 50% in the year through June. Shares of Macy's are down 40% through the past year.

Department stores are also battling to balance waning sales and a costly store-base, which for Barneys includes more than 10 namesake stores in New York, California,Chicago, Massachusetts, Las Vegas, Seattle and Pennsylvania.

Manhattan has proved particularly onerous.

Rent at Barneys' flagship on Madison Avenue, owned by Ashkenazy Acquisition Corp, jumped from roughly $16 million to approximately $30 million in January, nearly wiping out its earnings before interest, tax, depreciation and amortization, CNBC previously reported.

Many retail landlords in Manhattan's Midtown made investments in their property when retail was stronger, either by buying at high prices or taking out large loans predicated on high valuations.  The rent they charge is a reflection of those valuations. As retail has struggled and sales have slumped, the disconnect has hurt both tenant and landlord.

Ralph Lauren closed its Fifth Avenue store in 2017, while Lord & Taylor closed its Fifth Avenue flagship in January.

Barneys, which has roughly $850 million in sales, extended the term of its credit line by $50 million in April, in hopes of a lifeline. Still, the credit agreement with existing lender Wells Fargo and new lender, TPG Sixth Street Partners, has not been enough to siphon the losses.

Barneys has been backed by Perry Capital, the fund run by Richard Perry, since 2012.  Perry closed his fund four years later, citing industry and market headwinds.

Perry Capital has since largely existed as a "zombie fund," in which it has owned Barneys but has not put more money into it.

Barneys dates to 1923, when Barney Pressman opened a men's discount clothing store on Seventh Avenue and 17th Street. In the 1960s, Barney's son Fred helped transition from a discount store to a luxury retailer. Barneys soon made its imprint on New York luxury fashion, building on its foothold in menswear and introducing designers like Giorgio Armani.

The people requested anonymity because the information is confidential.  M-III did not immediately respond to a request for comment. A message left with Perry Capital out of business hours was not returned. 

Reuters first reported the possible bankruptcy plans. 
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