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Reuters
Published
Apr 1, 2010
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JoS A Bank fourth quarter tops market; shares hit lifetime high

By
Reuters
Published
Apr 1, 2010

March 31 (Reuters) - JoS A Bank Clothiers Inc (JOSB.O) reported quarterly results that surpassed market expectations, as direct marketing boosted sales, sending the men's apparel and accessories retailer's shares up 5 percent to a new lifetime high.


Jos. A Bank Clothiers Inc - Photo: www.josbank.com

For the fourth quarter, the company, which has reported higher-than-expected profits for several consecutive quarters, earned $1.91 a share, while analysts on average were expecting a profit of $1.79 a share, according to Thomson Reuters I/B/E/S.

Net sales came in at $279.4 million, topping analysts' estimates of $260.8 million.

For the year ended Jan. 30, net income rose to $71.2 million, or $3.84 cents a share, from $58.4 million, or $3.17 a share, a year ago.

Net sales rose 11 percent for the year, spurred by a 12.2 percent increase in direct marketing sales.

Shares of the Hampstead, Maryland-based company were up $2.36 at $54.08 Wednesday 31 March in the morning on Nasdaq. They touched a life-high of $54.43 earlier in the session. (Reporting by Viraj Nair in Bangalore; Editing by Unnikrishnan Nair)

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