Maybe it’s the layoff lift, as unemployed consumers are investing in new outfits for interviews. But Jos. A. Bank had a great year.
The men’s clothing and apparel seller Jos. A. Bank Clothiers reported record net sales of $695.9 million for fiscal year 2008, which ended Jan. 31. That’ a 15.2% gain over the $604 million the company did in the prior fiscal year.
JoS. A. Bank’s net income increased to $58.4 million, up 16.3% over the $50.2 million it reported last fiscal year. The merchant had more success in bricks-and-mortar than direct sales though. Comparable store sales increased 8.9% during fiscal year 2008, while direct sales decreased 0.2%.