Jos. A. Bank Shares Fall After 1Q

NEW YORK (AP) — Shares of Jos. A. Bank Clothiers Inc. fell on Wednesday, despite reporting first-quarter results that beat expectations, as an analyst said the second half of the year will be more difficult.

Late Tuesday, the company said profit rose 17 percent, while revenue rose 11 percent to $161.9 million. Both figures beat analyst expectations.

Still shares fell $1.22, or 3 percent, to $40 during midday trading. The stock has traded between $15.38 and $42.50 during the past 52 weeks.

C.L. King analyst Scott Krasik said in a note to investors that first-quarter results were solid, but was cautious about the second half of the year.

"We reiterate our 'Neutral' rating," Krasik wrote. "Jos. A. Bank continues to do a very good job during the downturn, but sales and earnings comparisons get more difficult in the second half of the year and the promotional intensity is not expected to lighten up at all in 2009."