Solid Q3 for Jos. A. Bank

In News by MR Magazine StaffLeave a Comment

NEW YORK – Jos. A. Bank Clothiers confounded the skeptics once again in its third quarter.

The Hampstead, Md.-based men’s specialty chain managed increases in profits and gross margin and, though more modest than its previous double-digit increases, same-store sales.

During the three months ended Oct. 28, net income picked up 18.4% to $5.5 million, or 30 cents a diluted share, from $4.7 million, or 26 cents, a year earlier. On average, analysts had expected EPS of 29 cents.

Sales were up 13.1% to $105.6 million from $119.5 million. Although comparable-store sales were up 2.3%, modest by previous JAB standards, non-store sales, from the Internet and its catalogues, grew 21.4%.

Gross margin improved to 60.6% of sales from 60% during the 2005 period.

Year-to-date net income grew 9.6% to $18.3 million, or $1.00 a share, from $16.7 million, or 93 cents. Sales were 17.1% higher, at $352.3 million, while comps were up 5.6%.

At $202.6 million, inventories were running 14.7% higher than at the start of the fiscal year in January.

Jos. A. Bank operates 371 men’s specialty stores in 42 states.

Share on FacebookTweet about this on TwitterPin on PinterestShare on LinkedInEmail this to someonePrint this page

Leave a Comment