JoS. A. Bank profit surges 40% on increased sales

Hampstead, Md. JoS. A. Bank Clothiers said Wednesday that its fiscal second-quarter profit climbed 40% on increased sales, easily beating Wall Street's expectations.

The menswear retailer earned $12.5 million for the period ended Aug. 1, up from $8.9 million a year earlier.

Sales grew 10% to $167.7 million, from $152.7. Same-store sales rose 6.2%.

Company president and CEO R. Neal Black commented: “With this quarter’s results, we have achieved earnings growth in 31 of the past 32 quarters when compared to the respective prior year periods, including 13 quarters in a row.”