Home / Knowledge / News / Apparel/Garments / Apparel retailer JoS. A. Bank's sales up 11.1& in Q3 FY'12
Apparel retailer JoS. A. Bank's sales up 11.1& in Q3 FY'12
29
Nov '12
JoS. A. Bank Clothiers Inc. announces that net income for the third quarter of fiscal year 2012 decreased 11.2% to $13.3 million as compared with net income of $15.0 million for the third quarter of fiscal year 2011. Diluted earnings per share for the third quarter of fiscal year 2012 decreased 13.0% to $0.47 per share as compared with diluted earnings per share of $0.54 for the third quarter of fiscal year 2011.

Total sales for the third quarter of fiscal year 2012 increased 11.1% to $232.9 million from $209.6 million in the third quarter of fiscal year 2011. Comparable store sales increased 4.8% and Direct Marketing sales increased 25.8% in the third quarter of 2012.

Comparing the first nine months of fiscal year 2012 with the first nine months of fiscal year 2011, net income declined 3.8% to $51.3 million as compared with $53.3 million and diluted earnings per share declined 4.2% to $1.83 per share as compared to $1.91 per share. Total sales for the first nine months of fiscal year 2012 increased 9.6% to $694.5 million from $633.6 million for the first nine months of fiscal year 2011, while comparable store sales increased 3.5% and direct marketing sales increased 21.8%.

The third quarter of fiscal year 2012 ended October 27, 2012; the third quarter of fiscal year 2011 ended October 29, 2011.

"We are pleased that we were able to deliver comparable store sales growth and Direct Marketing segment sales growth during the third quarter of fiscal year 2012. However, we are disappointed that our net income declined versus the same period a year ago. We had a decline in our operating income margin due to additional markdowns and promotional activity which were needed to drive these sales.

Also, Hurricane Sandy, which hit along the East Coast where the majority of our largest volume regions are located, negatively impacted third quarter sales, particularly when we ran a big promotion right at the end of the quarter," stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. "The hurricane, along with the distractions of the national election, continued to have a negative impact in the first weeks of November. In November, for the start of the fourth quarter, comparable store sales were down. With the critical month of December still ahead of us, and continued pressure on margins, we remain cautious for the outcome of the fourth quarter," continued Mr. Black.

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

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Ashok Desai
Bombay Textile Research Association

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search