Jos. A. Bank reports 24.7 percent earnings increase

Retailer continues to attract customers with bargains

August 31, 2011|By Andrea K. Walker, The Baltimore Sun

Men's clothier Jos. A. Bank said this morning that second-quarter earnings increased 24.7 percent as men continued to bargain shop.

The Hampstead-based clothier reported net income of $20.6 million, or 74 cents per share, for the fiscal quarter ended July 30. That was compared to $16.5 million, or 59 cents per share, for the second quarter of last year.

Comparable store sales increased 14.7 percent from last year, while catalog and Internet sales jumped 27.8 percent.

"We are pleased with our sales and earnings performance," CEO R. Neal Black said in a statement. "While the components of our income statement may fluctuate somewhat from quarter to quarter, our business model … continues to deliver strong earnings growth over time."

Black said sales in August are up slightly.

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