Jos. A Bank Clothiers Earnings: Everything You Must Know Now
Jos. A Bank Clothiers Inc. (NASDAQ:JOSB) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Jos. A Bank Clothiers Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 38.55% to $0.51 in the quarter versus EPS of $0.83 in the year-earlier quarter.
Revenue: Decreased 10.69% to $232.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Jos. A Bank Clothiers Inc. reported adjusted EPS income of $0.51 per share. By that measure, the company missed the mean analyst estimate of $0.52. It beat the average revenue estimate of $232.25 million.
Quoting Management: 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 increased approximately 40 basis points from last year. Customers did not respond as well to some of our highly promotional marketing campaigns as they did in the prior year, causing the disappointing sales decline in the quarter. At the same time, day to day sales on the non-promotional portion of our business in stores increased during the quarter and have the potential to represent a larger portion of our business going forward. As we implemented new marketing strategies, we were conservative with our marketing expenditures which enabled us to continue to improve our marketing efficiency during the quarter.”
Key Stats (on next page)…