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JoS. A. Bank Clothiers Reports 12.7% Increase In Profits For Second Quarter Of Fiscal Year 2012; Company Plans To Expand To Approximately 800 Stores

Stocks in this article: JOSB

HAMPSTEAD, Md., Aug. 29, 2012 (GLOBE NEWSWIRE) -- JoS. A. Bank Clothiers, Inc. (Nasdaq:JOSB) announces that net income for the second quarter of fiscal year 2012 increased 12.7% to $23.2 million as compared with net income of $20.6 million for the second quarter of fiscal year 2011. Earnings per share for the second quarter of fiscal year 2012 increased 12.2% to $0.83 per share as compared with earnings per share of $0.74 for the second quarter of fiscal year 2011. Total sales for the second quarter of fiscal year 2012 increased 12.9% to $260.3 million from $230.7 million in the second quarter of fiscal year 2011. Comparable store sales increased 6.1% and Direct Marketing sales increased 39.3% in the second quarter of 2012.

Comparing the first six months of fiscal year 2012 with the first six months of fiscal year 2011, net income declined 1.0% to $38.0 million as compared with $38.4 million and earnings per share declined 0.7% to $1.36 per share as compared to $1.37 per share. Total sales for the first six months of fiscal year 2012 increased 8.9% to $461.7 million from $423.9 million for the first six months of fiscal year 2011, while comparable store sales increased 2.9% and direct marketing sales increased 19.8%.

The second quarter of fiscal year 2012 ended July 28, 2012; the second quarter of fiscal year 2011 ended July 30, 2011.

"We are pleased with our financial performance for the second quarter of fiscal year 2012. Sales increased by 12.9%, led by growth in our Direct Marketing segment sales and comparable store sales and net income increased by 12.7%. Our net income margin in the second quarter of fiscal year 2012 of 8.9% was consistent with the strong performance in the same period last year," stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. "Keeping in mind that sales are just one component of net income and that sales for any one month are not necessarily indicative of sales for the entire quarter, we are nevertheless pleased to announce that the third quarter has started out positively. Both our comparable store sales and Direct Marketing sales are up in fiscal August compared to the same period last year," continued Mr. Black.

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