Sales Rose

Driven by strong demand for tailored apparel, sales rose 9.2 percent last month at Hampstead-based Jos. A. Bank Clothiers Inc. The men's apparel retailer, which reported monthly sales yesterday along with most national retail chains, beat many of its competitors in the percentage increase in sales at stores open at least a year. U.S. retail sales rose, on average, 1.5 percent, according to a tally of 79 chains by Bank of Tokyo-Mitsubishi Ltd. Yesterday, Bank's shares rose $1.76, nearly 10 percent, closing at $19.52.

As stocks plunged, the job market weakened and the prospect of war with Iraq loomed, American consumers tightened spending in the nation's stores last month. Many of the biggest U.S. retailers reported disappointing sales yesterday - the slowest average sales gain in a year - as shoppers largely bypassed sweaters and outerwear and back-to-school items. Sales increased an average of 1.5 percent, according to the Bank of Tokyo-Mitsubishi Ltd.'s tally of 79 major retail chains. "The performance was surprisingly weak, given the easy comparison with September of last year," when sales rose 0.9 percent after the Sept.

Jos. A. Bank Clothiers Inc., a Hampstead-based men's apparel retailer, defied an overall gloomy August for retailers to post a 14.6 percent sales increase in stores open at least a year. Bank, which has 147 stores in 29 states, said sales rose in every major category, particularly in suits, shirts and sportswear. Total sales jumped 20.3 percent last month to $14.3 million compared with $11.9 million in r the corresponding period a year earlier, Bank said. Combined catalog and Internet sales climbed 11.3 percent.

Bethlehem Steel Corp.'s loss narrowed in the second quarter as sales rose, and the company, currently in bankruptcy, said the outlook for the steel market is strong. The steelmaker, with 3,400 employees locally, lost $119 million, or 98 cents a share, in the three months that ended June 30, compared with a loss of $1.1 billion, or $8.80 a share, in the second quarter last year, which included one-time charges of a little more than $1 billion. Excluding unusual items, including furnace outages, the company's net loss was $82 million, vs. $119.

DETROIT -- U.S. auto sales fell in June, hurt by Ford Motor Co.'s 11 percent decline, but General Motors Corp.'s sales rose 4.3 percent as discounts and newer truck models helped the largest automaker gain market share from its closest rival. GM and Ford said they revived no-interest loans to clear out 2002 models before their replacements arrive, the companies said. Sales fell 3.6 percent at DaimlerChrysler AG's Chrysler unit and 0.6 percent at Toyota Motor Corp. Ford, trying to recover from losses last year and the first quarter of this year, was hurt in June as it declined to match discounts offered by GM and Chrysler.

It was a combination punch to the solar plexus of this segment of the real estate market that should have taken it to its knees. First, the dot-com phenomenon went poof. Second, the stock market retreated as rising unemployment and recession took hold of the national economy, leaving many investors with a shell of a portfolio. And finally, there was the tragedy of Sept. 11. Yet, with every aspect suggesting a cooling of the luxury resale market in Baltimore, it turns out that in 2001 more people paid more money, purchasing more upscale properties than at any other time since this housing boom began in mid-1997.

Total existing-home sales in Maryland climbed last year to 112,000 units, up 10.6 percent from 101,000 units sold in 2000, according to the National Association of Realtors. Maryland's existing-home sales market outpaced the national growth rate of 3 percent for the similar year-to-year period. The NAR figures include single-family homes, apartment condominiums and co-ops. Nationwide, existing-home sales rose in 40 states and remain unchanged in Delaware. Home sales fell in nine states and the District of Columbia, according to the NAR. David Lereah, the NAR's chief economist, noted that low interest rates, particularly in last year's fourth quarter, were the most significant factor in the increased sales.

If consumers are concerned about the recession or a sluggish economy, it certainly hasn't shown in Baltimore's housing industry as good weather and low mortgage rates last month continued to push existing-home sales higher. January sales increased 11.86 percent from those of January 2001, according to statistics released yesterday by Metropolitan Regional Information Systems Inc. (MRIS), the multiple-listing database used by real estate brokers. In fact, just about every January indicator showed how healthy the real estate market continues to be. The total dollar volume for homes sold last month in the metropolitan area grew by nearly $77 million, a 25 percent increase over January 2001.

Keeping pace with increased January retail sales nationwide, Jos. A. Bank Clothiers Inc. reported yesterday that its sales for the month rose slightly and that the company expects to "significantly exceed" its full-year earnings guidance for fiscal 2001. The Hampstead-based men's apparel retailer said its total January sales rose 0.8 percent to $12.8 million, compared with $12.7 million for the corresponding period last year. Bank's sales at stores open at least a year - a key barometer in the retail industry - were down 8.7 percent, compared with January 2001.

DETROIT - General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's Chrysler division said yesterday that U.S. vehicle sales rose last month as zero percent loans helped the industry record its second-best sales year. Sales increased 7.2 percent over December 2000 at General Motors and 2 percent at Ford, including imports and big trucks. Chrysler gained 6.2 percent, beating analyst forecasts. Honda Motor Co.'s U.S. sales rose 7.8 percent, while one analyst predicted a 2.9 percent increase for Toyota Motor Corp.