JoS. A. Bank Clothiers Inc announces record results for its fiscal year ended January 30, 2010 ("fiscal year 2009").
Net income for fiscal year 2009 increased 22% to a record $71.2 million, as compared with net income of $58.4 million for the fiscal year ended January 31, 2009 ("fiscal year 2008"). Earnings per share for fiscal year 2009 increased 21% to $3.84 as compared with earnings per share of $3.17 for fiscal year 2008.
Net sales reached a record of $770.3 million in fiscal year 2009, representing a 10.7% gain as compared with net sales of $695.9 million in fiscal year 2008. Comparable store sales increased 6.3% during fiscal year 2009, while Direct Marketing sales increased 12.2%. The Company ended fiscal year 2009 with $21.9 million in cash, $169.7 million in short-term investments and no debt.
"We are pleased to announce another solid year of sales and earnings growth," commented R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. "Our core strategy to provide our customers with high quality men's clothing at a great value and to actively promote this value through a diverse advertising and marketing campaign has again produced favorable results for fiscal year 2009. We have continued to be successful in expanding our market share, growing our profits and controlling our expenses, while further strengthening our balance sheet. Additionally, with this quarter's results, we have achieved earnings growth in 33 of the past 34 quarters when compared to the respective prior year periods, including 15 quarters in a row," 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. The Company sells its full product line through 473 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, Md., and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."
JoS. A. Bank Clothiers Inc
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