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JoS. A. Bank Clothiers reports 37% increase in profits
02
Jun '10
JoS. A. Bank Clothiers, Inc. announces that net income for the first quarter of fiscal year 2010 increased 37% to $15.8 million, as compared to $11.5 million for the first quarter of fiscal year 2009. Earnings per share for the first quarter of fiscal year 2010 increased 37% to $0.85 per share, as compared to $0.62 per share for the first quarter of fiscal year 2009. The first quarter of fiscal year 2010 ended May 1, 2010; the first quarter of fiscal year 2009 ended May 2, 2009.

Total sales for the first quarter of fiscal year 2010 increased 10.0% to $178.1 million from $161.9 million in the first quarter of fiscal year 2009, while comparable store sales increased 10.4% and Direct Marketing sales decreased 0.6%.

"We are pleased with the Company's earnings and sales performance for the first quarter of fiscal year 2010," commented R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. Our combination of offering high quality men's clothing at a great value continues to drive solid traffic with our current customers and has also been successful at attracting new customers and expanding market share. With this quarter's results, we have achieved earnings growth in 34 of the past 35 quarters when compared to the respective prior year periods, including 16 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 479 stores in 42 states and the District of Columbia.

JoS. A. Bank Clothiers Inc


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