JoS. A. Bank Clothiers Inc announces record results for its fiscal year ended January 31, 2009 (fiscal year 2008).
Net income for fiscal year 2008 increased to a record $58.4 million, as compared with net income of $50.2 million for the fiscal year ended February 2, 2008 ("fiscal year 2007"). Earnings per share for fiscal year 2008 increased 17% to a record $3.17 as compared with earnings per share of $2.72 for fiscal year 2007.
Net sales reached a record of $695.9 million in fiscal year 2008, representing a 15.2% gain as compared with net sales of $604.0 million in fiscal year 2007.
Comparable store sales increased 8.9% during fiscal year 2008, while Direct Marketing sales decreased 0.2%. The Company ended fiscal year 2008 with $123 million in cash and no debt.
JoS. A. Bank Clothiers Inc