JoS. A. Bank Clothiers Announces 15.3% Increase in July Sales; Second Quarter Earnings Per Share to Increase at Least 38%
04 Agosto 2005 - 12:00PM
Business Wire
JoS. A. Bank Clothiers, Inc. (NASDAQ National Market: "JOSB")
announces that its total sales for the fiscal month ended July 30,
2005 (fiscal July 2005) increased 15.3% to $27.1 million compared
with $23.5 million in fiscal July 2004. Comparable store sales
increased 0.5% when compared with the month of July 2004, while
combined catalog and internet sales increased 21.5%. The Company
noted that, as a result of continued sales gains including a 20.2%
increase in the second quarter sales, and further improvements in
gross profit margins, diluted earnings per share for the second
quarter of 2005 are expected to meet or exceed the "consensus"
analyst estimate of $0.33 per share. The Company earned $0.24 per
share in the second quarter of the prior year (FY2004); as such,
earnings per share are expected to increase at least 38%. "We
entered July with significantly less clearance merchandise than the
prior year which resulted in higher gross profit margin and lower
clearance sales in the month," stated David E. Ullman, Chief
Financial Officer of JoS. A. Bank Clothiers, Inc. The Company also
noted that its overall sales gain during July was led by increases
in seasonal sportswear products. Total sales for the second quarter
ended July 30, 2005 increased 20.2% to $98.6 million compared with
$82.0 million in the comparable prior year period. Comparable store
sales increased 4.9% in the second quarter ended July 30, 2005,
while combined catalog and internet sales increased 23.4%. Total
sales for the six months ended July 30, 2005 increased 20.6% to
$195.2 million compared with $161.9 million in the comparable prior
year period. Comparable store sales increased 4.5% in the six
months ended July 30, 2005, while combined catalog and internet
sales rose 24.9%. The Company will report its operating results for
the second quarter of 2005 on Tuesday, September 6, 2005. A
conference call to discuss the earnings press release is scheduled
for September 6, 2005, at 11:00 a.m. Eastern Time (EDT). To
participate in the call on September 6, 2005, please dial (877)
209-0397, or (International) (612) 332-1025, at least five minutes
before 11:00 a.m. EDT. A replay of the conference call will be
available after 2:30 p.m. EDT on September 6, 2005, until 11:59
p.m. on September 12, 2005, by dialing (USA) (800) 475-6701 or
(International) (320) 365-3844. The access code for the replay will
be 791286. All current and historical earnings per share amounts
noted in this news release represent diluted earnings per share
adjusted for two stock dividends that were distributed to
stockholders in FY2004. The FY2004 earnings per share amounts
included in this news release give effect to the restatement to
reflect the revision of the Company's historical practices of
accounting for lease transactions as discussed in the Company's
Annual Report on Form 10-K for the year ended January 29, 2005.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the
nation's leading retailers of men's classically-styled tailored and
casual clothing, sportswear, footwear and accessories. The Company
sells its full product line through 283 stores in 38 states and the
District of Columbia, a nationwide catalog, and an e-commerce
website that can be accessed at www.josbank.com. The Company is
headquartered in Hampstead, MD, and its common stock is listed on
the NASDAQ National Market under the symbol "JOSB." The Company's
statements concerning future operations contained herein are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those forecast due to a variety of factors outside
of the Company's control that can affect the Company's operating
results, liquidity and financial condition such as risks associated
with economic, weather, public health and other factors affecting
consumer spending, the ability of the Company to finance its
expansion plans, the mix and pricing of goods sold, the market
price of key raw materials such as wool and cotton, availability of
lease sites for new stores, the ability to source product from its
global supplier base and other competitive factors. These
cautionary statements qualify all of the forward-looking statements
the Company makes herein. The Company cannot assure you that the
results or developments anticipated by the Company will be realized
or, even if substantially realized, that those results or
developments will result in the expected consequences for the
Company or affect the Company, its business or its operations in
the way the Company expects. The Company cautions you not to place
undue reliance on these forward-looking statements, which speak
only as of their respective dates, and assumes no obligation to
update any of the forward-looking statements. These risks should be
carefully reviewed before making any investment decision.
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