Jos. A. Bank Clothiers posted a solid start to its fiscal year: The men’s apparel cataloger/retailer saw gains in both the top and bottom lines for the first quarter ended May 1.
Sales for the first quarter of fiscal 2010 rose 10%, to $178.1 million, up from $161.9 million for the same period in 2009. Better still, the merchant’s net income jumped 37%, to $15.8 million, from $11.5 million for the quarter in 2009.
But Jos. A. Bank’s direct sales were not as robust: They decreased 0.6% for the quarter. The company’s same-store sales increased 10.4%.