Traditional men's styled clothing marketer JoS. A. Bank Clothiers Inc (JOSB) announced 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%.
"They 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%.
marketing@alchempro.com
