Jos. A. Bank Q3 EPS to rise 4 to 9 percent

REPORT_ Jos. A. Bank projects adjusted earnings per

diluted share in the third quarter to rise 4 to 9 percent over the earnings per diluted share reported in the year-ago third quarter. It projects total sales to be up in the mid single digits, comparable store sales to be roughly flat, and sales in the direct business to be up in the double digits. It also expects to report a slight increase in the gross profit margin rate in the third quarter, which would represent the second consecutive quarterly increase.

Jos. A. Bank Clothiers is based in Maryland. It is a retailer of men’s tailored and casual clothing, sportswear, footwear and accessories. The company has 629 stores in 44 states. “Our projected performance in the third quarter, which was somewhat affected by the government shutdown, marks a continuation of the positive trends we had seen at the end of the second quarter,” said R. Neal Black, President and CEO. “Combined comparable store and Internet sales were up in the low single digits. We believe we are realizing the benefits of the implementation of our new promotional marketing strategies. Looking ahead, we are highly focused on continuing to improve our sales trend.”