JoS. A. Bank Clothiers Earns $3.08 Per Share

JoS. A. Bank Clothiers ($JOSB) just reported its 2010 earnings-per-share of $3.08. Through their first three quarters, JOSB earned $1.61 per share. That means that Q4 earnings were $1.47 per share which was four cents more than Wall Street’s consensus.

JoS. A. Bank Clothiers, Inc. announces today record results for its fiscal year ended January 29, 2011 (“fiscal year 2010”).

Net income for fiscal year 2010 increased 21% to a record $85.8 million, as compared with net income of $71.2 million for the fiscal year ended January 30, 2010 (“fiscal year 2009”). Earnings per share for fiscal year 2010 increased 20% to $3.08 as compared with earnings per share of $2.56 for fiscal year 2009.

Net sales reached a record of $858.1 million in fiscal year 2010, representing an 11.4% gain as compared with net sales of $770.3 million in fiscal year 2009. Comparable store sales increased 7.0% during fiscal year 2010, while Direct Marketing sales increased 24.4%.

“2010 was another very successful year for the Company,” commented R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. “We realized double digit sales growth again through strong comparable store sales and Direct Marketing sales, combined with the sales contribution from the 36 new stores we added during the year. Additionally, we generated net income growth of 21% as we continued to gain leverage, primarily through margin expansion and expense control. Our cash from operating activities grew 25% and our financial position remains very strong. Once again, we ended the year with no debt. With this quarter’s results, we have achieved earnings growth in 37 of the past 38 quarters when compared to the respective prior year periods, including 19 quarters in a row,” continued Mr. Black.

Posted by on March 30th, 2011 at 8:16 am

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