Jos. A. Bank Tops Q2 Forecasts, Shares Soar

by Christopher Freeburn | August 29, 2012 4:28 pm

Jos. A. Bank Clothiers (NASDAQ:JOSB[1]) announced on Wednesday that it earned $23.2 million during the second quarter[2], up from $20.6 million in the same period last year.

The men’s apparel and accessory retailer recorded quarterly sales of $260.3 million, up 12.9% from 2011, and topping Wall Street, which was looking for $251.1 million, Reuters noted.

EPS was 83 cents, up from 74 cents last year. That easily beat analysts, who had forecast earnings of 73 cents a share.

Shares of Jos. A. Bank jumped about 14% in Wednesday afternoon trading.

Company officials said that same-store sales rose 6.1% compared to last year. The company plans to open 45 stores this year and another 50 next year.

After boosting its Internet presence with storefronts at eBay (NASDAQ:EBAY[3]) and Amazon (NASDAQ:AMZN[4]), Jos. A. Bank saw its direct marketing revenue soar 39.3% over 2011, representing 10% of total sales.

In May, the retailer added eBay’s PayPal mobile payment service, permitting customers to pay for purchases at its brick and mortar stores with their smartphones.

Endnotes:
  1. JOSB: http://studio-5.financialcontent.com/investplace/quote?Symbol=JOSB
  2. during the second quarter: http://www.reuters.com/article/2012/08/29/us-josabank-results-idUSBRE87S0OU20120829
  3. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
  4. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN

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