By  on April 8, 2009

Shares of Jos. A. Bank Clothiers Inc. jumped more than 20 percent Wednesday after the men’s retailer reported an almost 15 percent rise in fourth-quarter earnings and higher revenues.

For the quarter ended Jan. 31, net income at the Hampstead, Md.-based men’s specialty store retailer grew 14.7 percent to $30.4 million, or $1.66 a diluted share, from $26.5 million, or $1.45 a share, a year ago.

Sales in the three months increased 19 percent to $248.5 million from $208.9 million last year.

Analysts polled by Yahoo Finance had expected earnings of $1.51 a share on revenues of $227.4 million, on average.

Encouraged by the results, investors sent the company’s stock up $5.87, or 20.2 percent, to $34.91 on Wednesday.

In a research note for brokerage firm Sterne, Agee & Leach Inc., analysts Margaret Whitfield and Jennifer Milan wrote that Jos. A. Bank, benefited from incremental promotions, including one that offered a special New Year’s “buy-one, get-two-free” incentive.

Though the sales contributed to a 180-basis-point drop in fourth-quarter gross margin to 60.5 percent of sales, the analysts wrote that the company spent the holidays focused on “market share gains and gross margin dollars, rather than on gross margin rate.”

For the year ended Jan. 31, the retailer posted a 16.4 percent gain in net income to $58.4 million, or $3.17 a diluted share, from $50.2 million, or $2.72 a share, a year ago. Sales in the 12 months grew 15.2 percent to $695.9 million from $604 million in the previous year.

Same-store sales increased 8.9 percent in fiscal 2008, the company said. For the year, gross margin fell 80 basis points to 61.9 percent from 62.7 percent in 2007.

The company plans to discuss the results on a conference call Thursday morning.

Jos. A. Bank operates 461 stores in 42 states and Washington and an e-commerce site at

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