Boosted by promotions, Jos. A. Bank earnings soared 16 percent in 2008
Written on April 9, 2009
Jos. A. Bank Clothiers Inc. outperformed sluggish retail trends over 2008, growing same-store sales 9 percent and profit 16 percent over the year.
The Hampstead-based men’s shop posted $58 million in net income for $3.17 in earnings per share for the fiscal year ended Jan. 31.
Analysts polled by Thomson Reuters expected earnings of $3.06 per share.
Along with many other retailers, Jos. A. Bank (NASDAQ: JOSB) has been running sales and promotions to help draw sales. It has been running a $199 suit sale since last month, through Thursday direct faxless payday loans. And it also offered to refund customers for suits bought in that sale if they lose their jobs between April 16 and July 1.
Overall, the chain’s sales grew 15 percent over the year, to $696 million.
Jos. A. Bank operates 461 stores in 42 states and the District of Columbia, including locations in Arundel Mills Mall, Towson’s Shops at Kenilworth, the Hunt Valley Towne Center and the Inner Harbor.
Filed in: marketing.