JoS. A. Bank Clothiers Reports 16% Increase in Second Quarter Earnings Per Share; Management to Hold Conference Call Today
HAMPSTEAD, Md.--(BUSINESS WIRE)--Sept. 12, 2007--JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market: JOSB) announces that earnings for the second quarter of fiscal 2007 increased 16% to $0.44 per share, as compared to $0.38 per share for the second quarter of fiscal 2006. Net income in the second quarter of fiscal 2007 was $8.2 million, as compared to $7.0 million in the second quarter of fiscal 2006. The second quarter of fiscal 2007 ended August 4, 2007; the second quarter of fiscal 2006 ended July 29, 2006.
Comparing the six fiscal months ended August 4, 2007 with the six fiscal months ended July 29, 2006, earnings increased 29% to $0.90 per share, as compared to $0.70 per share and net income increased to $16.6 million, as compared to $12.8 million.
A conference call to discuss fiscal 2007 second quarter earnings will be held today at 11:00 a.m. Eastern Time (ET). To join in the call please dial (USA) 877-260-8899 or (International) 612-332-0819 at least five minutes before 11:00 a.m. ET. A replay of the conference call will be available after 2:30 p.m. ET on September 12, 2007 until September 19, 2007 at 11:59 p.m. ET by dialing (USA) 800-475-6701 or (International) 320-365-3844. The access code for the replay will be 885715. In addition, a webcast replay of the conference call will be posted on the investor relations section of our website: www.josbank.com (select "Company Information" and "Investor Relations").
Beginning in fiscal 2008, the Company will provide actual sales results to the investing public each quarter in connection with the release of its quarterly earnings. In addition, the Company may (but undertakes no obligation to do so) provide updates on the business during the quarter, typically in connection with its quarterly conference calls which are open to the public, as well as in periodic press releases and other communications. In connection with this updated policy, David E. Ullman, Executive Vice-President and Chief Financial Officer stated, "We manage our business, including the merchandise trends and store results, with a long-term perspective, and our merchandise assortments are typically set in two seasons each year. As such, short-term fluctuations in sales do not necessarily reflect the overall performance of the business and we have decided to communicate our sales in a manner that is more aligned to our business cycles. We have also made this change after much internal discussion and after considering industry trends and comments from the investing public, including our shareholders."
All earnings per share amounts in this news release represent diluted earnings per share.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 394 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, Md., and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."
The Company's statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forecast due to a variety of factors outside of the Company's control that can affect the Company's operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, higher energy and security costs, the successful implementation of the Company's growth strategy including the ability of the Company to finance its expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, merchandise trends and changing consumer preferences, the effectiveness of the Company's marketing programs, the availability of lease sites for new stores, the ability to source product from its global supplier base, litigations and other competitive factors. Other factors and risks that may affect the Company's business or future financial results are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended February 3, 2007 and the Company's subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.
JOS. A. BANK CLOTHIERS, INC.
Condensed Consolidated Balance Sheets
(In Thousands)
(unaudited)
JoS. A. Bank Clothiers Announces 11.5% Increase in June 2007 Sales; Comparable Store Sales Rise 0.4%
HAMPSTEAD, Md.--(BUSINESS WIRE)--July 12, 2007--JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market: "JOSB") announces that its total net sales for the fiscal month ended July 7, 2007 (fiscal June 2007) increased 11.5% to $53.2 million versus $47.7 million in the fiscal month ended July 1, 2006 (fiscal June 2006). Comparable store sales gained 0.4% in fiscal June 2007, as compared with fiscal June 2006, while Direct Marketing sales increased 32.9%.
Comparing the five fiscal months ended July 7, 2007 with the five fiscal months ended July 1, 2006, total net sales increased 15.2% to $228.1 million from $198.0 million; comparable store sales increased 4.8%; and Direct Marketing sales increased 22.6%.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 389 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, MD, and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."
The Company's statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forecast due to a variety of factors outside of the Company's control that can affect the Company's operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, higher energy and security costs, the successful implementation of the Company's growth strategy including the ability of the Company to finance its expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, merchandise trends and changing consumer preferences, the effectiveness of the Company's marketing programs, the availability of lease sites for new stores, the ability to source product from its global supplier base, litigations and other competitive factors. Other factors and risks that may affect the Company's business or future financial results are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended February 3, 2007 and the Company's subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.
CONTACT: JoS. A. Bank Clothiers, Inc., Hampstead, MD
JoS. A. Bank Clothiers Reports 17.6% Gain in Total Net Sales and 4.3% Increase in Comparable Store Sales in Fiscal Year 2006; Company Raises Earnings Guidance to at Least $2.25 Per Share
HAMPSTEAD, Md.--(BUSINESS WIRE)--Feb. 8, 2007--JoS. A. Bank Clothiers, Inc. (NASDAQ Global Select Market: "JOSB") today reported that its total net sales for the 53 weeks ended February 3, 2007 (fiscal year 2006) increased 17.6% to $546.4 million, as compared with $464.6 million for the 52 weeks ended January 28, 2006 (fiscal year 2005).
The Company also noted that it expects earnings per share for fiscal year 2006 to be at least $2.25, representing at least a 15% increase when compared with earnings per share of $1.95 in fiscal year 2005.
Fiscal year 2006 contained 53 weeks and fiscal year 2005 contained 52 weeks, consistent with the National Retail Federation's 4-5-4 week calendar. Total net sales comparisons presented herein use the actual number of weeks in each fiscal period. Comparable Store and Direct Marketing sales comparisons presented herein use the corresponding calendar periods of the prior year to match the equal number of weeks.
Comparing the five weeks of fiscal January 2006 with the four weeks of fiscal January 2005, total net sales increased 34.7% to $41.5 million from $30.8 million. Comparing the five weeks of fiscal January 2006 with the corresponding five weeks of the prior year, Comparable Store sales decreased 4.7% and Direct Marketing sales increased 42.0%.
Comparing the 14 weeks of the fourth quarter of fiscal year 2006 with the 13 weeks of the fourth quarter of fiscal year 2005, total net sales increased 18.5% to $194.1 million from $163.8 million. Comparing the 14 weeks of the fourth quarter of fiscal year 2006 with the corresponding 14 weeks of the prior year, Comparable Store sales increased 2.0% and Direct Marketing sales increased 26.5%.
Comparing the 53 weeks of fiscal year 2006 with the 52 weeks of fiscal year 2005, total net sales increased 17.6% to $546.4 million from $464.6 million. Comparing the 53 weeks of fiscal year 2006 with the corresponding 53 weeks of the prior year, Comparable Store sales increased 4.3% and Direct Marketing sales increased 23.5%.
All earnings per share amounts in this news release represent diluted earnings per share adjusted for the 25% stock dividend that the Company announced on December 14, 2005, under which shareholders of record as of January 27, 2006 received one additional share of common stock for each four shares then owned. The stock dividend was distributed on February 15, 2006.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 376 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, MD, and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."
The Company's statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated due to a variety of factors outside of the Company's control that can affect the Company's operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, higher energy and security costs, the successful implementation of the Company's growth strategy including the ability of the Company to finance its expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, fashion trends and changing consumer preferences, the effectiveness of the Company's marketing programs, the availability of lease sites for new stores, the ability to source product from its global supplier base, litigations and other competitive factors. Other factors and risks that may affect our business or future financial results are detailed in our filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended January 28, 2006 and the Company's subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.
CONTACT: JoS. A. Bank Clothiers, Inc., Hampstead, MD David E. Ullman, EVP/CFO, 410-239-5715 or Investor Relations Information Request Website www.josbank.com SOURCE: JoS. A. Bank Clothiers, Inc
11/02/2006 JoS. A. Bank Clothiers Asnnounces 18.1% Increase in October 2006 Sales; Comparable Store Sales Increase 8.4%
HAMPSTEAD, Md.--(BUSINESS WIRE)--Nov. 2, 2006--JoS. A. Bank Clothiers, Inc. (NASDAQ Global Select Market: "JOSB") announces that its total sales for the fiscal month ended October 28, 2006 ("fiscal October 2006") increased 18.1% to $43.7 million, as compared with $37.0 million in fiscal October 2005. Comparable store sales increased 8.4% in fiscal October 2006, as compared with fiscal October 2005. Combined catalog and Internet sales increased 9.8% in fiscal October 2006, as compared with the same prior year period.
Comparing the third fiscal quarter ended October 28, 2006 with the comparable prior year period, total sales increased 13. 2% to $119.5 million from $105.6 million; comparable store sales increased 2.3%; and combined catalog and Internet sales increased 21.3%.
Comparing the fiscal nine months ended October 28, 2006 with the comparable prior year period, total sales increased 17.1% to $352.3 million from $300.8 million; comparable store sales increased 5.6%; and combined catalog and Internet sales increase 21.7%.
The Company also noted that it has opened 35 stores in the first nine months of fiscal 2006, with additional openings planned in the fourth quarter.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 359 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, MD, and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."
The Company's statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated due to a variety of factors outside of the Company's control that can affect the Company's operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, higher energy and security costs, the successful implementation of the Company's growth strategy including the ability of the Company to finance its expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, fashion trends and changing consumer preferences, the effectiveness of the Company's marketing programs, the availability of lease sites for new stores, the ability to source product from its global supplier base, litigations and other competitive factors. Other factors and risks that may affect our business or future financial results are detailed in our filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended January 28, 2006 and the Company's Quarterly Report on Form 10-Q for the quarter ended July 29, 2006. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.
CONTACT: JoS. A. Bank Clothiers, Inc., Hampstead, MD David E. Ullman, EVP/CFO, 410-239-5715 or Investor Relations Voicemail 410-239-5900 E-commerce Address for JoS. A. Bank Clothiers, Inc.: SOURCE: Joseph A. Bank Clothiers, Inc.