UPDATE: Jos. A. Bank Posts Downbeat Q3 Profit

Jos. A. Bank Clothiers

reported an 11% drop in its fiscal third-quarter profit. Jos. A. Bank's quarterly profit fell to $13.3 million, or $0.47 per share, from $15 million, or $0.54 per share, in the year-ago period. Its sales rose 11% to $232.9 million. However, analysts were expecting earnings of $0.56 per share on revenue of $231.8 million. Jos. A. Bank's same-store sales rose 4.8%, while direct marketing sales surged 26%. Its operating margin declined to 9.1% from 11.6%. Jos. A. Bank shares closed at $47.28 yesterday.