Jos. A. Bank Enjoys a Profitable Q2

by MR Magazine Staff

HAMPSTEAD, Md. – Jos. A. Bank Clothiers, Inc. announced second quarter earnings of 44 cents per share, a 16 percent increase over last year’s second quarter earnings of 38 cents per share. Net income went up from $7 million last year to $8.2 million. Revenue went up from $119.1 million last year to $134.3 million, an increase of 13 percent.

Same store sales for the month of August rose 8 percent.

The company said it won’t begin releasing its quarterly sales figures until fiscal 2008. The Associated Press estimated sales at $135 million.

CEO David E. Ullman released the following statement: “We manage our business, including the merchandise trends and store results, with a long-term perspective, and our merchandise assortments are typically set in two seasons each year. As such, short-term fluctuations in sales do not necessarily reflect the overall performance of the business and we have decided to communicate our sales in a manner that is more aligned to our business cycles. We have also made this change after much internal discussion and after considering industry trends and comments from the investing public, including our shareholders.”