Home / Knowledge / News / Apparel/Garments / JoS. A. Bank reports 25% increase in profits for Q2
JoS. A. Bank reports 25% increase in profits for Q2
02
Sep '11
JoS. A. Bank Clothiers, Inc announces that net income for the second quarter of fiscal year 2011 increased 24.7% to $20.6 million as compared with net income of $16.5 million for the second quarter of fiscal year 2010. Earnings per share for the second quarter of fiscal year 2011 increased 25.4% to $0.74 per share as compared with earnings per share of $0.59 for the second quarter of fiscal year 2010. The second quarter of fiscal year 2011 ended July 30, 2011; the second quarter of fiscal year 2010 ended July 31, 2010.

Total sales for the second quarter of fiscal year 2011 increased 22.4% to $230.7 million from $188.4 million in the second quarter of fiscal year 2010, while comparable store sales increased 14.7% and Direct Marketing sales increased 27.8%.

Comparing the first six months of fiscal year 2011 with the first six months of fiscal year 2010, net income increased 18.8% to $38.4 million as compared to $32.3 million and earnings per share increased 18.1% to $1.37 per share as compared to $1.16 per share. Total sales for the first six months of fiscal year 2011 increased 15.7% to $423.9 million from $366.5 million for the first six months of fiscal year 2010, while comparable store sales increased 7.6% and Direct Marketing sales increased 25.0%.

"We are pleased with our sales and earnings performance for the second quarter of fiscal year 2011. While the components of our income statement may fluctuate somewhat from quarter to quarter, our business model, which features an aggressively sourced, high-quality, well-balanced, fully-stocked assortment that is promoted with timely marketing and sold by knowledgeable professionals in convenient locations, continues to deliver strong earnings growth over time. With this quarter's results, we have achieved earnings growth in 39 of the past 40 quarters when compared to the respective prior year periods, including 21 quarters in a row," stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. "While sales are just one component of overall profit and August is a relatively small sales month, our comparable store sales in August are up slightly compared to the same period last year, despite the impact of the recent hurricane," continued Mr. Black.

All earnings per share amounts in this news release represent diluted earnings per share adjusted for the 50% stock dividend that the Company announced on June 17, 2010, under which stockholders of record as of July 30, 2010 received one additional share of common stock for each two shares then owned. The stock dividend was distributed on August 18, 2010.

JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading designers, manufacturers and retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 529 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website.

Jos. A. Bank Clothiers


Must ReadView All

Textiles minister Smriti Irani lighting the lamp to inaugurate the 6th edition of the International Apparel and Textile Fair ‘VASTRA 2017’, in Jaipur. Courtesy: PIB

Textiles | On 22nd Sep 2017

Placement rate in textiles sector is 70%: Indian minister

The recent high growth of foreign direct investment (FDI) in the...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Textiles | On 22nd Sep 2017

Messe Frankfurt acquires Source Africa, ATF textile shows

Messe Frankfurt, one of the world´s leading trade show organisers,...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search