Jos A.Bank Wraps Up Q1 with Strong April
NEW YORK – Jos. A. Bank Clothiers concluded the first quarter of the fiscal year with a 7.3% gain in same-store sales for April.
The company reported early Thursday that net sales for the month ended May 5 were $45.5 million 18.5% above the $38.4 million registered during last year’s month, which ended April 29. Direct marketing sales were up 30% for the month.
The results for April put net sales for the first quarter ended May 5 at $129.5 million, 13.9% above the comparable 2006 period. Comparable-store sales gained 3.8% and direct marketing revenues were up 20.7%.
On average, analysts had expected JAB to finish the quarter with sales of $133.19 million. Earnings per share are projected to hit $0.41 a diluted share.
Based in Hampstead, Md., Jos. A. Bank operates 385 stores in 42 states. It recently has been a subject of frequent rumors, ranging from the published reports that it would go private through a management-led takeover to speculation that it would be acquired by a private equity group. Management has declined to comment on the reports.
