Hampstead, MD-based cataloger/retailer Jos. A. Bank Clothiers (Nasdaq NM:JOSB) said annual net income increased 50% to $24.5 million for the year ended Jan. 29, compared with $16.3 million in net income last year.
Total sales for the year increased 24% to $372.5 million, compared with sales of $299.7 million last year. Combined annual catalog and Internet sales increased 23% from last year. Comp store sales were up 8% last year.
For the fourth quarter, net income increased 30% to $13.0 million compared with $10.0 million. Sales increased 26.8% to $127.9 million, compared with sales of $100.9 million last period. Combined fourth quarter catalog and Internet sales increased 31%. Comparable store sales rose 9%.
To continue to its growth, Jos. A Bank expects to open 60 to 75 stores in 2005, with 18 to 20 stores opening in the first half of the year.