JoS. A. Bank To Accelerate Expansion In 2010

HAMPSTEAD, Md. (AP) — JoS. A. Bank Clothiers Inc. said Tuesday that it will open more stores in fiscal 2010 than planned for the current year to take advantage of real estate opportunities.

The retailer expects to open 30 to 40 new stores in fiscal 2010, compared with an estimated 10 to 15 stores in fiscal 2009.

"Quality real estate opportunities are beginning to open in the marketplace and we are ready to expand our store base at a more rapid rate," President and CEO R. Neal Black said in a statement.

The openings are part of the company's long-term goal of running 600 stores. It currently has 467 stores.

Shares of JoS. A. Bank gained $1.86, or 4.8 percent, to $41.01 in morning trading. Over the past year, the stock has traded in a range of $15.38 to $42.50.