3rd straight sales increase reported by Jos. A. Bank Quarterly figures reach $33.8 million


August 15, 1996|By SUN STAFF

Continuing its growth trend, Jos. A. Bank Clothiers Inc. reported yesterday its third consecutive quarter of strong sales figures.

For the second quarter ended Aug. 3, sales in stores open at least a year, a key measure of performance, rose 5.1 percent.

Over the previous two quarters, the Hampstead-based chain of zTC 80 stores reported comparable-store sales increases of 8.6 percent and 6.7 percent.

"Suits -- tailored clothing has remained strong," said Bank Chairman Timothy F. Finley.

For the second quarter, overall sales increased by 6.3 percent to $33.8 million.

Reflecting the company's turnaround, four stores are scheduled to open from September through November in Annapolis, Reston, Va., Jacksonville, Fla., and Paramus, N.J.

In addition, after a two-year lapse, several Bank executives have begun to buy shares in the company, led by newcomer Frank Tworecke, executive vice president and chief merchandising officer, who recently acquired 55,000 shares.

Pub Date: 8/15/96

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