By
Reuters
Published
Mar 30, 2011
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Jos A Bank quarterly results beat on promotions

By
Reuters
Published
Mar 30, 2011

March 30 - Men's apparel and accessories retailer Jos A Bank Clothiers Inc reported higher quarterly results that beat market expectations as eye-catching promotions helped drive sales.


Jos A Bank store

The company, which has been expanding its store base, saw strong demand in November helped by Black Friday sales in the lead up to the key holiday selling season.

Jos A Bank, established in 1905, sells its products through retail stores, internet and catalogues and operates 510 stores in 42 states and the District of Columbia.

The company added 36 stores to its tally in the year.

Fourth-quarter profit at Jos A Bank was $40.9 million, or $1.47 a share, compared with $35.5 million, or $1.28 a share, a year ago.

Revenue rose 14 percent to $318.3 million.

Wall Street was expecting earnings of $1.43 a share on revenue of $305.7 million.

The Hampstead, Maryland-based company's shares, which have gained nearly 14 percent since it reported third-quarter results in December, closed at $48.72 on Tuesday on Nasdaq.

(Reporting by Renju Jose in Bangalore; Editing by Unnikrishnan Nair)

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