UPDATE: Jos. A. Bank Posts Downbeat Q3 Profit
Jos. A. Bank Clothiers (NASDAQ: JOSB) 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.
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