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Jos. A. Banks fall short of estimates


Hampstead, Md. -- Jos. A. Banks posted a profit of $12.6 million during the fiscal 2010 third quarter ended Oct. 30, compared with a profit of $11.7 million in the year age period. It was the 36th quarter out of the past 37 with earnings growth compared with prior year periods.

Revenue increased 7.4% to $173.3 million from $161.3 million a year ago. Same-store sales increased 3% in the quarter.

Both earnings and sales trailed analysts’ estimates.

“Sales for the quarter were positive but started out below plan in August and then picked up in September and October with each month getting progressively better," said CEO R. Neal Black." Right now, to date, the fourth quarter has started out strong. November suit sales and total sales were up substantially compared to last year and were ahead of our plans.”

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