Jos A. Bank Q2 profit soars 32%, beats Street
Hampstead, Md. JoS. A. Bank Clothiers reported Wednesday that its second-quarter profit rose 32% to $16.5 million, compared with $12.5 million in the year-ago period. The results topped Wall Street estimates.
Revenue for the quarter ended July 31 increased 12% to $188.4 million, from $167.7 million. Wall Street expected revenue of $181.3 million.
According to JoS. A. Bank CEO R. Neal Black, the retailer has had higher earnings compared with a year ago in 35 of the past 36 quarters, including 17 quarters in a row.
Same-store sales rose 9.2%.
JoS. A. Bank operates 490 stores in 42 states and Washington, D.C.