JoS. A. Bank Clothiers Q2 FY'13 sales fall 10.7%

Diluted earnings for the second quarter of fiscal year 2013 were $0.51 per share as compared with diluted earnings of $0.83 per share for the second quarter of fiscal year 2012, which is within the expected EPS range of $0.49 to $0.53 per diluted share previously announced by the Company.

Total sales for the second quarter of fiscal year 2013 decreased 10.7% to $232.5 million from $260.3 million in the second quarter of fiscal year 2012.

Comparable store sales decreased 15.9% and Direct Marketing sales decreased 1.9% in the second quarter of 2013 as compared with the second quarter of 2012. Combined comparable store and Internet sales for the second quarter of fiscal year 2013 decreased 15.5% when compared to the second quarter of fiscal year 2012.

Comparing the first six months of fiscal year 2013 with the first six months of fiscal year 2012, net income was $22.3 million as compared with $38.0 million and diluted earnings per share was $0.80 per share as compared to $1.36 per share.

Total sales for the first six months of fiscal year 2013 decreased 7.2% to $428.6 million from $461.7 million for the first six months of fiscal year 2012, while comparable store sales decreased 12.7% and direct marketing sales increased 3.9%.

Combined comparable store and Internet sales for the first six months of fiscal year 2013 decreased 11.9% when compared to the first six months of fiscal year 2012.

The second quarter of fiscal year 2013 ended August 3, 2013; the second quarter of fiscal year 2012 ended July 28, 2012.

JoS. A. Bank Clothiers