26% Rise in Third Quarter Earnings Reported by Jos. A. Bank
On Wednesday, Jos. A. Bank Clothiers Inc. delighted investors by posting a whopping 26% rise in earnings for the current fiscal year's third quarter, making this the 14th consecutive quarter for which the company has reported a successful rise in profits. According to the firm, the biggest improvement was recorded by sales of men's products.
"Despite the continued pressure we are facing from the difficult national economy, our business model is performing very well", said CEO and President R. Neal Black.
In three months up-to October 31 for the current year, the retailer posted earnings of $11.7 Million, or 63 cents per share, a substantial rise from the $9.3 Million, or 50 cents a share, worth of earnings posted for the same period last year.
The actual figures have managed to beat the estimate pegged by analysts, which stood at per share earnings of 55 cents, by a good margin.
Sales for the period also recorded an 8% rise to $161.3 Million from last year's figure of $149.3 Million. Wall Street's estimate for the revenue had been a mere $160.2 Million.
Jos. A. Bank is a renowned retailer of men's apparel, footwear and accessories, and currently has 474 stores in 42 different states as well as the District of Columbia.
United Kingdom News
- Mass market crucial for Macau Casino Industry’s recovery: Bernstein Analysts
- William Hill to merge online and retail divisions with Phil Walker in-charge
- BGC impressed by steps taken by UK casinos, disappointed by Government’s response
- Stephen Cohen reappointed as Commissioner of the Gambling Commission
- Online Sports Bettors don’t turn to Online Casinos during absence of sports: Research