JoS. A. Bank 2Q Profit Up On Higher Sales

HAMPSTEAD, Md. (AP) — JoS. A. Bank Clothiers Inc. said Wednesday that its fiscal second-quarter profit climbed 40 percent on increased sales, easily beating Wall Street's expectations.

The menswear retailer earned $12.5 million, or 68 cents per share, for the period ended Aug. 1. That's up from $8.9 million, or 48 cents per share, a year earlier.

Analysts predicted net income of 54 cents per share, according to a Thomson Reuters survey. Analysts' estimates generally exclude one-time items.

Sales grew 10 percent to $167.7 million from $152.7 million to surpass Wall Street's estimate of $166.7 million.

Sales at stores open at least a year, know as same-store sales, rose 6.2 percent.

Same-store sales are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.

JoS. A. Bank sells its products in 467 stores in 42 states and the District of Columbia.