UPDATE: Jos. A. Bank Posts Drop In Q4 Profit

Jos. A. Bank Clothiers JOSB reported a drop in its fiscal fourth-quarter profit. Jos. A. Bank's quarterly profit dropped to $27.4 million, or $0.98 per share, versus a year-ago profit of $28.4 million, $1.01 per share. Excluding special items, it earned $1.07 per share. The company in February projected adjusted earnings of $1.04 to $1.10 per share. Its sales gained to $356 million, while comparable-brand sales climbed 1.8%. Jos. A. Bank shares gained 0.16% to $64.46 at 10:30 a.m. ET.