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41% increase in profits at JoS. A. Bank Clothiers

05 Sep '09

2 min read

JoS. A. Bank Clothiers, Inc. announces that net income for the second quarter of fiscal year 2009 as compared to the second quarter of fiscal year 2008 increased 41% to over $12.5 million. Earnings per share for the second quarter of fiscal year 2009 increased 42% to $0.68 per share, as compared to $0.48 per share for the second quarter of fiscal year 2008.

Total sales for the second quarter of fiscal year 2009 increased 9.8% to $167.7 million from $152.7 million in the second quarter of fiscal year 2008, while comparable store sales increased 6.2% and Direct Marketing sales decreased 6.7%. The second quarter of fiscal year 2009 ended August 1, 2009; the second quarter of fiscal year 2008 ended August 2, 2008.

“We are pleased to report another quarter of earnings growth for the Company,” commented R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. “With this quarter's results, we have achieved earnings growth in 31 of the past 32 quarters when compared to the respective prior year periods, including 13 quarters in a row,” continued Mr. Black.

Comparing the first six months of fiscal year 2009 with the first six months of fiscal year 2008, net income increased 28% to $24.0 million, as compared to $18.7 million and earnings per share increased 26% to $1.29 per share, as compared to $1.02 per share. Total sales for the first six months of fiscal year 2009 increased 10.6% to $329.7 million from $298.1 million for the first six months of fiscal year 2008 while comparable store sales increased 5.2% and Direct Marketing sales increased 2.3%.

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JoS. A. Bank Clothiers Inc

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