Dive Summary:

• JPMorgan and Chase Bank have reached an agreement which will allow Men’s Wearhouse to re-purchase up to $100 million in common stock.
• The acquisition is the first phase of the $200 million project announced earlier this year by Men’s Wearhouse to re-purchase common stock and the retailer anticipates closing the deal by the end of 2013.
•  "This accelerated share repurchase demonstrates our commitment to delivering increased value to shareholders while continuing to invest in the important opportunities that will drive our long-term growth,” said current Men’s Wearhouse CEO Joseph Abboud.

From the article:

"We believe that the combination of this accelerated share repurchase, the reuniting of Joseph Abboud with his iconic brand, and our ongoing process evaluating alternatives for K&G, are significant 2013 strategic actions that better position us for growth and will unlock significant value for our shareholders," concluded Ewert.