Jos. A. Bank Clothiers
jumped early Monday after the retailer beat earnings expectations and offered bullish full-year guidance.
The men's clothing company said net income rose by almost a third to $12.6 million, or 88 cents a share, vs. $9.6 million, or 68 cents a share, in the year-ago period. Analysts were expecting 84 cents a share, according to Thomson First Call.
The Maryland-based company previously reported record sales for the fourth quarter. Revenue increased 26.8% to $127.9 million. Same-store sales rose 9.4% during the period.
The company also said it expects EPS in 2005 to be at least $2.00 to $2.05. Bank plans to open 60 to 75 stores during the year, with the bulk of them opening in the second half. The consensus earnings estimate is for $1.70.
Same-store sales rose 3.1 in February.