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Sales up 4.2% at JoS. A. Bank in Q1 FY'12

30
May '12
JoS. A. Bank Clothiers Inc. announces that total sales for the first quarter of fiscal year 2012 increased 4.2% to $201.4 million from $193.3 million in the first quarter of fiscal year 2011. Comparable store sales and Direct Marketing sales each declined 1.0% in the first quarter of 2012.

Net income for the first quarter of fiscal year 2012 declined to $14.8 million as compared with net income of $17.8 million for the first quarter of fiscal year 2011. Earnings per share for the first quarter of fiscal year 2012 declined to $0.53 per share as compared with earnings per share of $0.64 for the first quarter of fiscal year 2011. The first quarter of fiscal year 2012 ended April 28, 2012; the first quarter of fiscal year 2011 ended April 30, 2011.

"Net income in the first quarter of fiscal year 2012 was 7.4% of sales as compared with 9.2% of sales in the first quarter of fiscal year 2011. Sales started more slowly than we had planned for the first eight weeks of the quarter. After making marketing changes beginning in week nine, sales improved substantially," stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc.

"So far the second quarter has started out much better than the first quarter. For May, both our comparable store sales and Direct Marketing sales are up compared to the same period last year, continuing the positive trend established in the last five weeks of the first quarter. However, Father's Day, the most important selling period of the quarter, is still ahead of us," 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.

JoS. A. Bank Clothiers Inc


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