Men's Wearhouse stock up as retailer reviews strategic options

A Men's Wearhouse in New York
Adam Jeffery | CNBC

Shares in The Men's Wearhouse rose following a letter from Eminence Capital, saying the CEO of the menswear retailer told the fund that all strategic options will be reviewed—including a merger with Jos. A. Bank Clothiers

In the letter to Men's Wearhouse's CEO, the fund's CEO wrote, "We were encouraged by your comments, specifically your assurances that the Board of Directors of The Men'sWearhouse, Inc. (MW) takes its fiduciary duties seriously and that you instructed your financial advisors to review for the Board all strategic options available to the company, including a significant return of capital to shareholders and a merger with Jos. A. Bank Clothiers, Inc. (JOSB)."

(Read more: Eminence gets stakein Men's Wearhouse)

Following the report, both stocks were trading higher. (Track Men's Wearhouse shares here and Jos. A. Bank here.)

Eminence Capital owns 9.8 percent of Men's Wearhouse common stock, making it the single largest shareholder.

—Reported by CNBC's David Faber. Written by CNBC's Katie Little. Follow him on Twitter @DavidFaber and her on Twitter @KatieLittle