JoS. A. Bank Q3 profit up 19%
Hampstead, Md. -- JoS. A. Bank Clothiers said that net income for the third quarter of fiscal year 2011, ended Oct. 29, 2011, increased 19.3% to $15.0 million verses $12.6 million in the year-ago period. However, the chain warned that its forth quarter has started out more slowly than expected, and that it has adjusted its December merchandising and marketing plans for the stores.
Total sales increased 21.0% to $209.6 million, from $173.3 million. Same-store sales rose 14.6% and direct marketing sales increased 28.6%.
“With this quarter's results, we have achieved earnings growth in 40 of the past 41 quarters when compared to the respective prior year periods, including 22 quarters in a row," stated R. Neal Black, president and CEO of JoS. A. Bank Clothiers.