Jos. A. Bank earnings jump 31.7 percent

Men's retailer helped by strong sales

September 01, 2010|By Andrea K. Walker, The Baltimore Sun

Men's retailer Jos. A. Bank said this morning that second-quarter earnings for the fiscal year increased 31.7 percent as shoppers continued to look for bargains.

The Hampstead-based company reported earnings of $16.5 million, or 59 cents per share, for the quarter ended July 31. The company had earnings of $12.5 million, or 45 cents per share, for the same period a year ago.

Comparable store sales jumped 9.2 percent for the quarter, while catalog and Internet sales increased 12.4 percent.

"Our combination of offering high quality men's clothing at a great value continued to drive solid sales growth for the quarter, which, combined with the leveraging of our operating expenses, has resulted in strong earnings growth," R. Neal Black, president and CEO, said in a statement.

Black said the company has seen earnings growth in 35 of the past 36 quarters.

The company will discuss the earnings in more detail during a conference call with analysts Thursday.

andrea.walker@baltsun.com

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