UPDATE: JoS. A. Bank Q4 Profit Declines 36%

JoS. A. Bank Clothiers

reported a 36% drop in its fiscal fourth-quarter profit. JoS. A. Bank's quarterly profit fell to $28.4 million, or $1.01 per share, from $44.1 million, or $1.58 per share, in the year-ago period. Its sales fell 2.4% to $354.8 million. However, analysts were expecting earnings of $0.98 per share on revenue of $368.5 million. Its gross margin declined to 55.9% from 60%. JoS. A. Bank shares closed at $39.18 yesterday.