Jos. A. Takes Earnings to the Bank
Hampstead, MD-based Jos. A. Bank Clothiers (Nasdaq NM: JOSB) got a double dose of good news. Not only did third-quarter catalog and Internet sales jump significantly, but so did net income.
For the three months ended Oct. 29, net income was $4.7 million, up 47% from $3.2 million for the third quarter of last year. Total sales for the men’s apparel merchant increased 28%, to $105.6 million, as compared with $82.6 million last year. Combined catalog and Internet sales increased 23%. Comparable store sales increased 14%.
Harry and David DM Sales Increase 5% on Circ Hike
Medford, OR-based Harry and David Holdings reported that first-quarter direct marketing net sales, which include catalog, Internet, business-to-business, and outbound telemarketing revenue, increased 5%, to $26.1 million for the three months ended Sept. 24. The food and plants merchant had increased its year-over-year catalog circulation 11% as well as revved up Web marketing initiatives.
Net sales for the quarter increased 8%, to $57.7 million from $53.7 million for the first quarter of fiscal 2005. Store sales fell 2%, to $21.8 million, due to the planned closure during the past year of 14 underperforming stores.
The company posted a loss before net interest expense, income taxes, depreciation. and amortization (EBITDA) of $19.6 million, compared with a $17.6 million loss a year earlier. Rising delivery and transportation costs due to increased fuel surcharges, higher raw material and product costs, and greater selling, general and administrative expenses were the culprits.