Jos. A. Bank Clothiers Inc. (JOSB) Wednesday posted its best fourth-quarter and annual financial results in its more than 100-year history as the suit and casual-wear retailer rides out the recession with help from direct connections with suppliers and a promotional, but profitable, selling approach.

Jos. A. Bank caters to white-collar employees who are struggling mightily because of the economy's pullback, and its category -- higher-end men's apparel -- is stagnant, at best. However, the company has a leg-up on department stores through its direct sourcing arrangement with vendors and, while promotional, is more price competitive than other retailers that specialize in men's suits.

Jos. A. Bank is "an attractive retail concept with low fashion risk, a tremendous track record of success, an experienced management team, a pristine balance sheet and a cheap [stock] valuation," said Scott Krasik, retail analyst at CL King & Associates, who rates shares a strong buy and has a price target of $39.

The company posted fourth-quarter results that included a 19% jump in revenue to $248.5 million on higher same-store sales. Analysts expected to see revenue come in at $227 million, and investors are responding to the results. Shares moved up 17%, or $4.98, to $34.02 in recent trading, and the stock has more than doubled from the multi-year closing low of $15.78 in mid-November.

The results show Jos. A. Bank had its best quarter during the Christmas holiday season, and are a far cry from those of competitors that include Brooks Brothers, Men's Warehouse Inc. (MW) and department stores like Nordstrom Inc. (JWN) and Macy's Inc. (M).

Jos. A. Bank sells largely through its roughly 460 namesake stores, located mainly in high-end, specialty retail centers, and is successfully taking share from rivals and growing its top and bottom lines. However, the economy is prompting the company to re-evaluate the timing of plans to grow to 600 stores by 2012, according to a regulatory filing the company made Wednesday.

Jos. A. Bank representatives didn't immediately return phone calls requesting comment and the company plans to hold its conference call to discuss results on Thursday.

Gross profit margin was essentially unchanged, 61.9% at the end of fiscal 2008, compared with 62.7% the year before. The steadiness is unusual in a retail group whose margins have been significantly contracting because of broad discounting to woo recession-hit consumers.

Sales have been helped by some pretty unique promotions: Last month, the retailer offered to refund up to $199 of a suit's price and allow customers to keep it if they are laid off through early summer.

"It's like giving all of our customers a bit of unemployment insurance" as they interview for a new job, Chief Executive R. Neal Black said in a statement.

-By Karen Talley, Dow Jones Newswires; 201-938-5106; karen.talley@dowjones.com