Joseph A. Bank Profit Falls in 1Q

New York City, Joseph A. Bank Clothiers Inc. on Wednesday posted weaker profit in its fiscal first-quarter, as higher costs offset revenue growth. Net income fell to $5.9 million for the quarter ended in April, from $6.7 million in the year-earlier quarter. Sales rose 18% to $113.7 million from $96.6 million a year ago on stronger revenue from both sales and direct marketing. Same-store sales rose 4.7% during the quarter.