Sterne Agee Projects Jos. A. Bank Clothiers' EPS
According to a research report published today, Sterne Agee has projected Jos. A. Bank Clothiers' (NASDAQ: JOSB) EPS to be $1.61.
Sterne Agee commented in the report, “We expect net sales to increase 10% Y/Y to $350 million, on a 4% store comp and 30% direct-to-consumer (DTC) sales growth. The company said that store comps were soft in the first three weeks of November, and although Black Friday was the best comp day of the year, it was not enough for a positive start to the quarter. Comp performance likely improved in December due to an easier comparison and heightened traffic-driving promotions. We have projected gross margin down 130 bp Y/Y to 60%, offset by 110 bp of SG&A expense leverage.”
Sterne Agee maintains its Buy rating and $62 PT on Jos. A. Bank Clothiers, which closed yesterday at $54.65.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.