Nice Net Income for Jos. A. Bank
Men’s apparel cataloger/retailer Jos. A. Bank Clothiers had a decent first quarter. For the quarter ended May 3, its total sales rose nearly 12.3%, to $145.4 million, up from $129.5 million after the first quarter last year.
Direct sales were not quite as robust: Jos. A. Bank recorded a slight 0.2% increase in combined catalog and Internet sales. But its net income climbed 17.7%, to $9.83 million, compared to $8.35 million last year.
Direct Sales Slide At Sonoma
First-quarter sales for cataloger/retailer Williams-Sonoma fell 4.2%, to $781.8 million, from $816.1 million last year. Retail sales decreased 4.4%, to $433.6 million, from $453.4 million last year. Direct-to-customer sales (catalog/Internet) slipped 4.0%, to $348.2 million, compared to $362.7 million last year.
Company officials attributed the decline to falling sales in all brands, except PBteen and West Elm. On the bright side: Williams-Sonoma’s Internet revenue in the first quarter increased 8.7%, to $251.5 million, up from $231.5 million last year.