JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market: JOSB)
announces that earnings for the first quarter of fiscal 2007
increased 41% to $0.45 per share, as compared to $0.32 per share
for the first quarter of fiscal 2006. Net income in the first
quarter of fiscal 2007 was $8.4 million, as compared to $5.9
million in the first quarter of 2006. The first quarter of fiscal
2007 ended May 5, 2007; the first quarter of fiscal 2006 ended
April 29, 2006. Comparing the first quarter of fiscal 2007 with the
first quarter of fiscal 2006, total net sales increased 13.9% to
$129.5 million from $113.7 million; comparable store sales
increased 3.8%; and Direct Marketing sales increased 20.9%. A
conference call to discuss fiscal 2007 first quarter earnings will
be held today at 11:00 a.m. Eastern Time (ET). To participate in
the call please dial (USA) 888-428-4479 or (International)
651-291-5254 at least five minutes before 11:00 a.m. ET. A replay
of the conference call will be available after 2:30 p.m. ET on June
11, 2007 until June 18, 2007 at 11:59 p.m. ET by dialing (USA)
800-475-6701 or (International) 320-365-3844. The access code for
the replay will be 871553. In addition, a webcast replay of the
conference call will be posted on the investor relations section of
our website: www.josbank.com (select �Company Information� and
�Investor Relations�). All earnings per share amounts in this new
release represent diluted earnings per share. JoS. A. Bank
Clothiers, Inc., established in 1905, is one of the nation's
leading retailers of men's classically-styled tailored and casual
clothing, sportswear, footwear and accessories. The Company sells
its full product line through 388 stores in 42 states and the
District of Columbia, a nationwide catalog and an e-commerce
website that can be accessed at www.josbank.com. The Company is
headquartered in Hampstead, MD, and its common stock is listed on
the Nasdaq Global Select Market under the symbol "JOSB." The
Company's statements concerning future operations contained herein
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those forecast due to a variety of factors outside
of the Company's control that can affect the Company's operating
results, liquidity and financial condition. Such factors include
risks associated with economic, weather, public health and other
factors affecting consumer spending, higher energy and security
costs, the successful implementation of the Company's growth
strategy including the ability of the Company to finance its
expansion plans, the mix and pricing of goods sold, the
effectiveness and profitability of new concepts, the market price
of key raw materials such as wool and cotton, seasonality,
merchandise trends and changing consumer preferences, the
effectiveness of the Company's marketing programs, the availability
of lease sites for new stores, the ability to source product from
its global supplier base, litigations and other competitive
factors. Other factors and risks that may affect the Company�s
business or future financial results are detailed in the Company�s
filings with the Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K for the year ended February 3,
2007 and the Company's subsequent Quarterly Reports on Form 10-Q
filed through the date hereof. These cautionary statements qualify
all of the forward-looking statements the Company makes herein. The
Company cannot assure you that the results or developments
anticipated by the Company will be realized or, even if
substantially realized, that those results or developments will
result in the expected consequences for the Company or affect the
Company, its business or its operations in the way the Company
expects. The Company cautions you not to place undue reliance on
these forward-looking statements, which speak only as of their
respective dates. The Company does not undertake an obligation to
update or revise any forward-looking statements to reflect actual
results or changes in the Company's assumptions, estimates or
projections. These risks should be carefully reviewed before making
any investment decision. JOS. A. BANK CLOTHIERS, INC. CONSOLIDATED
BALANCE SHEETS FEBRUARY 3, 2007 AND MAY 5, 2007 (In Thousands) �
February 3, 2007 May 5, 2007 ASSETS (unaudited) CURRENT ASSETS:
Cash and cash equivalents $ 43,080� $ 26,474� Accounts receivable,
net 5,193� 7,249� Inventories, net 183,471� 180,263� Prepaid
expenses and other current assets � 18,560� � 22,116� Total current
assets 250,304� 236,102� � NONCURRENT ASSETS: Property, plant and
equipment, net 117,553� 117,741� Other noncurrent assets � 535� �
518� Total assets $ 368,392� $ 354,361� LIABILITIES AND
STOCKHOLDERS� EQUITY � CURRENT LIABILITIES: Accounts payable $
41,683� $ 30,484� Accrued expenses 63,606� 49,780� Deferred tax
liability � current � 8,453� � 8,453� Total current liabilities
113,742� 88,717� � NONCURRENT LIABILITIES: Long-term debt 412� 415�
Noncurrent lease obligations 42,053� 43,846� Deferred tax liability
� noncurrent 2,595� 2,191� Other noncurrent liabilities � 1,356� �
1,620� Total liabilities � 160,158� � 136,789� � COMMITMENTS AND
CONTINGENCIES � STOCKHOLDERS� EQUITY: Common stock 180� 181�
Additional paid-in capital 78,101� 79,080� Retained earnings
130,092� 138,450� Accumulated other comprehensive losses � (139) �
(139) Total stockholders� equity � 208,234� � 217,572� Total
liabilities and stockholders� equity $ 368,392� $ 354,361� Note:
The foregoing audited and unaudited Condensed Consolidated Balance
Sheets are excerpts from our Condensed Consolidated Financial
Statements (as of February 3, 2007 and May 5, 2007) and do not
include the Notes, which are considered an integral part thereof.
The foregoing unaudited financial information should be read in
conjunction with the Company's Quarterly Report on Form 10-Q for
the quarterly period ended May 5, 2007 and the Annual Report on
Form 10-K for the fiscal year ended February 3, 2007, which were
filed with the Securities and Exchange Commission on June 11, 2007
and April 17, 2007, respectively. JOS. A. BANK CLOTHIERS, INC.
CONSOLIDATED STATEMENTS OF INCOME THREE MONTHS ENDED APRIL 29, 2006
AND MAY 5, 2007 (In Thousands, Except Per Share Information)
(Unaudited) � Three Months Ended April 29, 2006 May 5, 2007 � NET
SALES $ 113,665� $ 129,533� � Cost of goods sold � 43,914� �
48,453� � GROSS PROFIT � 69,751� � 81,080� � OPERATING EXPENSES:
Sales and marketing 47,116� 53,781� General and administrative �
12,200� � 13,497� Total operating expenses � 59,316� � 67,278� �
OPERATING INCOME 10,435� 13,802� � OTHER INCOME (EXPENSES):
Interest income 23� 438� Interest expense � (344) � (101) Other
income (expenses) � (321) � 337� � Income before provision for
income taxes 10,114� 14,139� Provision for income taxes � 4,253� �
5,781� � NET INCOME $ 5,861� $ 8,358� � EARNINGS PER SHARE: Net
income: Basic $ 0.33� $ 0.46� Diluted $ 0.32� $ 0.45� Weighted
average shares outstanding: Basic 17,884� 18,042� Diluted 18,347�
18,376� Note: The foregoing unaudited Condensed Consolidated
Statements of Income are excerpts from our unaudited Condensed
Consolidated Financial Statements for the three months ended April
29, 2006 and May 5, 2007 and do not include the Notes, which are
considered an integral part thereof. The foregoing unaudited
financial information should be read in conjunction with the
Company's Quarterly Report on Form 10-Q for the quarterly period
ended May 5, 2007, which was filed with the Securities and Exchange
Commission on June 11, 2007. JOS. A. BANK CLOTHIERS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS THREE MONTHS ENDED APRIL 29,
2006 AND MAY 5, 2007 (In Thousands) (Unaudited) � Three Months
Ended April 29, 2006 May 5, 2007 CASH FLOWS FROM OPERATING
ACTIVITIES: Net income $ 5,861� $ 8,358� Adjustments to reconcile
net income to net cash used in operating activities: Depreciation
and amortization 3,686� 4,480� Increase (decrease) in deferred
taxes 213� (404) Loss on disposition of assets 3� 69� Net increase
in operating working capital � (35,099) � (22,751) � Net cash used
in operating activities � (25,336) � (10,248) � CASH FLOWS FROM
INVESTING ACTIVITIES: Capital expenditures � (5,936) � (7,338) �
Net cash used in investing activities � (5,936) � (7,338) � CASH
FLOWS FROM FINANCING ACTIVITIES: Borrowings under long-term credit
agreement 25,978� -� Repayment of borrowings under long-term credit
agreement (13,542) -� Proceeds from long-term debt 400� -�
Repayment of other long-term debt (236) -� Income tax benefit from
exercise of stock options 5,134� 227� Net proceeds from exercise of
stock options � 7,046� � 753� � Net cash provided by financing
activities � 24,780� � 980� � Net decrease in cash and cash
equivalents (6,492) (16,606) � CASH AND CASH EQUIVALENTS, beginning
of year � 7,344� � 43,080� � CASH AND CASH EQUIVALENTS, end of year
$ 852� $ 26,474� Note: The foregoing unaudited Condensed
Consolidated Statements of Cash Flows are excerpts from our
unaudited Condensed Consolidated Financial Statements for three
months ended April 29, 2006 and May 5, 2007 and do not include the
Notes, which are considered an integral part thereof. The foregoing
unaudited financial information should be read in conjunction with
the Company's Quarterly Report on Form 10-Q for the quarterly
period ended May 5, 2007, which was filed with the Securities and
Exchange Commission on June 11, 2007.
Jos. A. Bank Clothiers (NASDAQ:JOSB)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Jos. A. Bank Clothiers (NASDAQ:JOSB)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024