Jos. A. Bank posts 22% profit increase for 2009

April 01, 2010

Men's clothier Jos. A. Bank reported a 22 percent profit increase for 2009 as it continued to attract shoppers with steep discounts. The Hampstead company said net income came in at $71.2 million, or $3.84 per share, for the fiscal year ended Jan. 30. That was compared with $58.4 million, or $3.17 per share, for the same period a year ago. Revenue for the year jumped to $770 million, a 10.7 percent gain from a year ago. Comparable stores sales, or those open at least a year, increased 6.3 percent. Direct marketing sales increased 12.2 percent. Bank's stock price reached an all-time high on the news. Bank will release fourth-quarter results Thursday.

- Andrea K. Walker

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