JoS. A. Bank Clothiers Reports 10.5% Gain in Total Net Sales and 3.8% Increase in Comparable Store Sales in Fiscal Year 2007; Co
07 Février 2008 - 12:00PM
Business Wire
JoS. A. Bank Clothiers, Inc. (NASDAQ Global Select Market: "JOSB")
today reported that its total net sales for the 52 weeks ended
February 2, 2008 (fiscal year 2007) increased 10.5% to $604.0
million, as compared with $546.4 million for the 53 weeks ended
February 3, 2007 (fiscal year 2006). The Company also noted that it
expects net income for fiscal year 2007 to increase approximately
12% to 14% over fiscal year 2006 net income of $43.2 million.
Fiscal year 2007 contained 52 weeks and fiscal year 2006 contained
53 weeks, consistent with the National Retail Federation's 4-5-4
week calendar. Total net sales and Direct Marketing sales
comparisons presented herein use the actual number of weeks in each
fiscal period. Comparable store sales comparisons presented herein
use the corresponding weeks in the comparable prior fiscal period.
Comparing the four weeks of fiscal January 2007 with the five weeks
of fiscal January 2006, total net sales decreased 17.1% to $34.3
million from $41.4 million and Direct Marketing sales decreased
18.6%. Comparing the four weeks of fiscal January 2007 with the
first four weeks of fiscal January 2006, comparable store sales
decreased 1.2%. Comparing the 13 weeks of the fourth quarter of
fiscal year 2007 with the 14 weeks of the fourth quarter of fiscal
year 2006, total net sales increased 7.6% to $208.9 million from
$194.1 million and Direct Marketing sales increased 11.1%.
Comparing the 13 weeks of the fourth quarter of fiscal year 2007
with the first 13 weeks of the fourth quarter of fiscal year 2006,
comparable store sales increased 5.0%. Comparing the 52 weeks of
fiscal year 2007 with the 53 weeks of fiscal year 2006, total net
sales increased 10.5% to $604.0 million from $546.4 million and
Direct Marketing sales increased 13.1%. Comparing the 52 weeks of
fiscal year 2007 with the first 52 weeks of fiscal year 2006,
comparable store sales increased 3.8%. As previously announced,
sales results for periods in fiscal 2008 and beyond will be
provided by the Company on a quarterly basis in connection with the
release of its quarterly or annual earnings. 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 422 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.
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