JoS. A. Bank Clothiers Announces the Acceleration of its Store Expansion Program for Fiscal Year 2010; Company Plans to Open ...
25 Agosto 2009 - 3:51PM
Business Wire
JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market:
"JOSB") today announces the acceleration of its store expansion
program in fiscal year 2010. The Company plans to open 30 to 40 new
stores in fiscal year 2010, an increase over the 10 to 15 new
stores it plans to open in fiscal year 2009.
The Company noted that it has opened over 350 of its 467 stores
in the past ten years and it expects to open at least 130
additional stores as part of its long-term plan to operate 600
stores.
"We are pleased to announce our plans to accelerate the pace of
our new store openings in fiscal year 2010,” noted R. Neal Black,
President and CEO of JoS. A. Bank Clothiers, Inc. “Quality real
estate opportunities are beginning to open in the marketplace and
we are ready to expand our store base at a more rapid rate. We
believe we are poised to take advantage of these opportunities as a
result of our strong financial position. We have a proven ability
to open 60 stores a year and these future store openings will put
us back on the track we were on prior to the national economic
crisis,” continued Mr. Black.
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 467 stores in 42 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 Global Select 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 factors include risks associated with economic, weather,
public health and other factors affecting consumer spending,
including negative changes to consumer confidence and other
recessionary pressures, higher energy and security costs, the
successful implementation of the Company's growth strategy,
including the ability of the Company to finance its expansion
plans, the mix and pricing of goods sold, the effectiveness and
profitability of new concepts, the market price of key raw
materials such as wool and cotton, seasonality, merchandise trends
and changing consumer preferences, the effectiveness of the
Company's marketing programs, the availability of suitable lease
sites for new stores, doing business on an international basis, the
ability to source product from its global supplier base, legal
matters and other competitive factors. The identified risk factors
and other factors and risks that may affect the Company's business
or future financial results are detailed in the Company's filings
with the Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K for the year ended January 31,
2009 and the Company's subsequent Quarterly Report on Form 10-Q
filed through the date hereof. 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. The Company does not undertake an obligation to
update or revise any forward-looking statements to reflect actual
results or changes in the Company's assumptions, estimates or
projections. These risks should be carefully reviewed before making
any investment decision.
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