1Q Yields Big Bank for Jos. A. Bank

Hampstead, MD–Men’s apparel cataloger/retailer Jos. A. Bank Clothiers (Nasdaq National Market: JOSB) is looking sharp. The company announced that for the quarter ended May 4, net income rose 235%, to $1.7 million, compared with from $506,000 last year. Net sales increased 18%, to $55.8 million, compared with $47.4 million last year. What’s more, the 25% sales increase for catalog and Web combined far outpaced Bank’s 8% comparable store retail increase.

For stockholders, Jos. A. Bank more than tripled its earnings per share to $.25 for the first quarter of 2002 compared with earnings per share of $.08 in the first quarter last year. The marketer also raised its earnings guidance for the fiscal year ending Feb. 1, 2003 to a minimum of $1.25 per share compared with earnings per share of $1.05 last year.

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