JOSB’s Q1 Net Profit Soars 38%

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JoS A Bank Clothiers Inc (NASDAQ: JOSB) announced that its fiscal Q1 net profit surged 38% over the year-ago quarter.The Hampstead, Maryland-based company reported a net profit of $15.8 million, or $0.85 a share, for the period ended May 1, up from $11.5 million, or $0.62 a share, in the year-ago period. JOSB’s sales for the quarter climbed 10% to $178.1 million and the comparable store sales advanced 10.4%. The analysts on Wall Street were expecting the American manufacturer-retailer to earn $0.72 a share.JOSB’s CEO R Neal Black said, "With this quarter's results, we have achieved earnings growth in 34 of the past 35 quarters when compared to the respective prior year periods, including 16 quarters in a row."Shares of JOSB lost 0.07% to $60.64 yesterday, but climbed 3.07% to $62.50 in the pre-market session.Read more

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