Home / Knowledge / News / Apparel/Garments / Sales rise 13.6% in FY'11 for JoS. A. Bank Clothiers
Sales rise 13.6% in FY'11 for JoS. A. Bank Clothiers
Mar '12
JoS. A. Bank Clothiers Inc. announces record results for its fiscal year ended January 28, 2012 ("fiscal year 2011").

Net income for fiscal year 2011 increased 13.6% to a record $97.5 million, as compared with net income of $85.8 million for the fiscal year ended January 29, 2011 ("fiscal year 2010"). Earnings per share for fiscal year 2011 increased 13.3% to $3.49 as compared with earnings per share of $3.08 for fiscal year 2010.

Net sales reached a record of $979.9 million in fiscal year 2011, representing a 14.2% gain as compared with net sales of $858.1 million in fiscal year 2010. Comparable store sales increased 7.6% during fiscal year 2011, while Direct Marketing sales increased 14.7%.

"We are pleased with our financial performance in 2011. Earnings were up 13.6% and sales increased by 14.2%, driven primarily by strong comparable store and Direct Marketing sales growth and sales generated by new stores. With the results of the fourth quarter of 2011, we have achieved earnings growth in 41 of the past 42 quarters when compared to the respective prior year periods, including 23 quarters in a row," stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc.

"The first quarter of 2012 has started out more slowly than we had planned with declines in both comparable store sales and Direct Marketing sales for the first 8 weeks of the quarter. The declines are primarily due to weaker than expected traffic and also due to the warmer winter weather which is resulting in significantly lower sales of outerwear and cold weather merchandise."

"We are making marketing changes to address the sales trend. We believe that these changes will be effective and appealing to our customers; however we remain cautious about the outcome of the first quarter of 2012," 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.

JoS. A. Bank Clothiers Inc

Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


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