JoS. A. Bank Clothiers Announces the Opening of Its 500th Store
03 Novembre 2010 - 11:00AM
Business Wire
JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market:
JOSB), announces the opening of its 500th store. The 500th store
will open this Friday, November 5, 2010, in the Franklin Tower at
14th and I Streets in the East End of Washington, D.C.
The Company has opened over 200 stores in the past five years
and it expects to open another 100 to 175 stores in the future as
part of its long-term plan to grow the chain to approximately 600
full-line stores and 50 to 75 factory stores in the United States,
depending on the performance of the Company over the next several
years and the development of the factory store concept. To date,
JoS. A. Bank has opened 30 stores (25 full-line, 4 factory and 1
franchise) in fiscal year 2010 and expects to open approximately 36
stores for the entire year.
“We are pleased that the Company has been able to continue to
grow the business through store openings,” stated R. Neal Black,
CEO of JoS. A. Bank Clothiers, Inc. “Achieving the 500 store level
represents a significant milestone for the Company. Over the past 5
years, in addition to opening 200 new stores, the Company has
increased net income every year, eliminated all of its debt,
accumulated a cash and short-term investment position of
approximately $190 million and created approximately 2,000 jobs in
the United States,” continued Mr. Black.
In addition to the 500th store in Washington, D.C., the
following are among the 30 stores the Company has opened during
fiscal year 2010.
- Northwestern Station, Chicago, Illinois
(Ogilvie Transportation Center)
- Chevy Chase, Maryland (Lake East Shopping
Center)
- Wayne, New Jersey (Willowbrook Mall)
- Ft. Worth, Texas (Alliance Town Center)
- Bellingham, Massachusetts (Charles River
Center)
- Gainesville, Virginia (Virginia
Gateway)
- Upper Arlington, Ohio (Arlington
Commons)
- Birmingham, Alabama (The Summit
Birmingham)
- Century City, California (Westfield Century
City)
- Mashpee (Cape Cod), Massachusetts (Mashpee
Commons)
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the
nation’s leading designers, manufacturers and retailers of men’s
classically-styled tailored and casual clothing, sportswear,
footwear and accessories. The Company sells its full product line
through 500 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, financial condition and
operations. Such factors include risks associated with economic,
weather, public health and other factors affecting consumer
spending, including negative changes to consumer confidence and
other recessionary pressures, 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 suitable lease
sites for new stores, doing business on an international basis, the
ability to source product from its global supplier base, legal
matters and other competitive factors. The identified risk factors
and 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 January 30,
2010 and the Company's subsequent Quarterly Reports 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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