JoS. A. Bank Clothiers Inc reported that its total net sales for the 53 weeks ended February 3, 2007 (fiscal year 2006) increased 17.6% to $546.4 million, as compared with $464.6 million for the 52 weeks ended January 28, 2006 (fiscal year 2005).
The Company also noted that it expects earnings per share for fiscal year 2006 to be at least $2.25, representing at least a 15% increase when compared with earnings per share of $1.95 in fiscal year 2005.
Fiscal year 2006 contained 53 weeks and fiscal year 2005 contained 52 weeks, consistent with the National Retail Federation's 4-5-4 week calendar. Total net sales comparisons presented herein use the actual number of weeks in each fiscal period. Comparable Store and Direct Marketing sales comparisons presented herein use the corresponding calendar periods of the prior year to match the equal number of weeks.
Comparing the five weeks of fiscal January 2006 with the four weeks of fiscal January 2005, total net sales increased 34.7% to $41.5 million from $30.8 million. Comparing the five weeks of fiscal January 2006 with the corresponding five weeks of the prior year, Comparable Store sales decreased 4.7% and Direct Marketing sales increased 42.0%.
Comparing the 14 weeks of the fourth quarter of fiscal year 2006 with the 13 weeks of the fourth quarter of fiscal year 2005, total net sales increased 18.5% to $194.1 million from $163.8 million. Comparing the 14 weeks of the fourth quarter of fiscal year 2006 with the corresponding 14 weeks of the prior year, Comparable Store sales increased 2.0% and Direct Marketing sales increased 26.5%.
marketing@alchempro.com
