The Collaborative International Dictionary of English v.0.48:

Broadcloth \Broad"cloth\, n.
   A fine smooth-faced woolen cloth for men's garments, usually
   of double width (i.e., a yard and a half); -- so called in
   distinction from woolens three quarters of a yard wide.
   [1913 Webster]

WordNet (r) 3.0 (2006):

broadcloth
    n 1: a densely textured woolen fabric with a lustrous finish
    2: a closely woven silk or synthetic fabric with a narrow
       crosswise rib