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JOSB expects fiscal 2007 net income to rise by 12% to 14%
07
Feb '08
JoS. A. Bank Clothiers Inc (JOSB) reported that its total net sales for the 52 weeks ended February 2, 2008 (fiscal year 2007) increased 10.5% to $604.0 million, as compared with $546.4 million for the 53 weeks ended February 3, 2007 (fiscal year 2006).

The Company also noted that it expects net income for fiscal year 2007 to increase approximately 12% to 14% over fiscal year 2006 net income of $43.2 million.

Fiscal year 2007 contained 52 weeks and fiscal year 2006 contained 53 weeks, consistent with the National Retail Federation's 4-5-4 week calendar. Total net sales and Direct Marketing sales comparisons presented herein use the actual number of weeks in each fiscal period. Comparable store sales comparisons presented herein use the corresponding weeks in the comparable prior fiscal period.

Comparing the four weeks of fiscal January 2007 with the five weeks of fiscal January 2006, total net sales decreased 17.1% to $34.3 million from $41.4 million and Direct Marketing sales decreased 18.6%. Comparing the four weeks of fiscal January 2007 with the first four weeks of fiscal January 2006, comparable store sales decreased 1.2%.

Comparing the 13 weeks of the fourth quarter of fiscal year 2007 with the 14 weeks of the fourth quarter of fiscal year 2006, total net sales increased 7.6% to $208.9 million from $194.1 million and Direct Marketing sales increased 11.1%. Comparing the 13 weeks of the fourth quarter of fiscal year 2007 with the first 13 weeks of the fourth quarter of fiscal year 2006, comparable store sales increased 5.0%.


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