Net Income Rises At Jos. A. Bank

Third-quarter sales for men’s apparel cataloger/retailer Jos. A. Bank Clothiers rose 8.1%, to $161.3 million, up from $149.3 million after the third quarter last year. Direct marketing sales jumped 21.2%. Same-store sales increased 3.3%. But the big story of the quarter for Jos. A. Bank Clothiers was its net income rose 26%, to $11.7 million.

President/CEO R. Neal Black said despite the continued pressure of the difficult national economy, “our business model is performing very well. With this quarter’s results, we have achieved earnings growth in 32 of the past 33 quarters when compared to the respective prior year periods, including 14 quarters in a row.”

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Net Income Rises at Jos. A. Bank

Third-quarter net income for Hampstead, MD-based Jos. A. Bank Clothiers rose 27%, to $7.1 million, compared with $5.5 million for the same period last year, in the third quarter ended Nov. 3. Sales jumped nearly 10%, to $131.3 million, up from $119.5 million in the third quarter of 2006. Direct sales for the menswear cataloger/retailer skyrocketed increased 1.8%, while same-store sales rose 3.1%.

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Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
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