JoS. A. Bank Clothiers Provides Fiscal Year 2013 Second Quarter Earnings Update
15 Août 2013 - 11:00PM
JoS. A. Bank Clothiers, Inc. (Nasdaq:JOSB) announces that earnings
for the second quarter of fiscal year 2013 are expected to be
approximately $0.49 to $0.53 per diluted share, compared with $0.83
per diluted share in the second quarter of 2012. Actual results
will depend on, among other things, adjustments that may arise from
the normal quarter-end processing. The second quarter of fiscal
year 2013 ended August 3, 2013; the second quarter of fiscal year
2012 ended July 28, 2012.
Commenting on the earnings update, R. Neal Black, President and
CEO of JoS. A. Bank Clothiers, Inc. stated: "While our total Sales
declined in the second quarter of fiscal 2013, we achieved
stability in our gross profit margin rate. Specifically, our gross
profit margin rate increased in both the fiscal months of June and
July and the overall rate for the second quarter is expected to
increase slightly from last year. Customers did not respond as well
to some of our highly promotional, high sales volume marketing
campaigns as they did in the prior year and total sales declined
approximately 11% in the quarter, primarily during these
promotional peaks. Day to day sales on the non-promotional portion
of our business in stores increased during the quarter. As we
implemented new marketing strategies, we were conservative with our
marketing expenditures which enabled us to improve our marketing
efficiency during the quarter."
"We are highly focused on improving our sales trend, and further
improving both our gross profit margin rate and our marketing
efficiency over the remainder of fiscal year 2013, with the overall
goal of returning to previous years' levels. We will continue
to modify and implement new marketing events and the related media
placement to maintain efficiency and to drive sales. We will
begin to annualize our declining sales and gross margin trends
during the third quarter and for all of the fourth quarter, which
means our opportunity for improvement is significant during those
periods," continued Mr. Black.
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 612 stores in 44 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,
Maryland, and its common stock is listed on the NASDAQ Global
Select Market under the symbol "JOSB."
Our 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 forecasted due to a variety of factors
outside of our control that can affect our operating results,
liquidity, and financial condition. Such factors include risks
associated with the economy, 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 our
growth strategy (including our ability to finance our 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 our
marketing programs (including compliance with relevant legal
requirements), the availability of suitable lease sites for new
stores, doing business on an international basis, the ability to
source product from our global supplier base, legal and regulatory
matters and other competitive factors. The identified risk factors
and other factors and risks that may affect our business or future
financial results are detailed in our filings with the Securities
and Exchange Commission, including, but not limited to, those
described under "Risk Factors" in our Annual Report on Form 10-K
for the year ended February 2, 2013 and our Quarterly Report on
Form 10-Q filed through the date hereof. These cautionary
statements qualify all of the forward-looking statements we make
herein. We cannot assure you that the results or developments
anticipated by us will be realized or, even if substantially
realized, that those results or developments will result in the
expected consequences for us or affect us, our business or our
operations in the way we expect. We caution you not to place undue
reliance on these forward-looking statements, which speak only as
of their respective dates. We do not undertake an obligation to
update or revise any forward-looking statements to reflect actual
results or changes in our assumptions, estimates or projections.
These risks should be carefully reviewed before making any
investment decision.
CONTACT: JoS. A. Bank Clothiers, Inc., Hampstead, Maryland
David E. Ullman
Executive Vice President/Chief Financial Officer
410-239-5715
or Investor Relations Information Request Website
(http://phx.corporate-ir.net/phoenix.zhtml?
c=113815&p=irol-IRHome)
or Investor Relations Voicemail, 410-239-5900
E-commerce Address for JoS. A. Bank Clothiers, Inc.:
www.josbank.com
Jos. A. Bank Clothiers (NASDAQ:JOSB)
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