Jos. A. Bank provides Q4 earnings update

REPORT_ Jos. A. Bank Clothiers has said that its adjusted earnings for the fourth quarter of fiscal

2013 are expected to be approximately 1.04 dollars to 1.10 dollars per diluted share, compared to 0.98 dollars adjusted earnings per diluted share in the fourth quarter of fiscal 2012.

The adjusted earnings for the fourth quarter of fiscal year 2013 exclude expenses of approximately 0.04 dollars per diluted share for legal and other professional services related to the company's acquisition proposal for The Men's Wearhouse, and other strategic activity, and approximately 0.03 dollars per diluted share for estimated non-cash asset impairment charges. Including these adjustments, GAAP earnings for the fourth quarter of fiscal year 2013 are expected to be approximately 0.97 dollars to 1.02 dollars per diluted share.

“We are pleased that throughout the critical holiday selling season our business was robust, as the quality of our merchandise and strength of our assortments resonated strongly with our customers. This resulted in a combined comparable brand sales (combined stores and internet sales) gain of 9.1 percent during the period of November 3rd through December 24th, and an increase in merchandise gross margins of approximately 60 basis points for the same period,” stated R. Neal Black, President and CEO.

“Total comparable brand sales for the 13 week 4th quarter of 2013 versus the comparable period of 2012 were up 1.8 percent and total sales were up 4.7 percent during the same period. Total sales for the 13 weeks of the 2013 4th quarter versus the 14 weeks of the 2012 4th quarter were up 4 percent,” Black added.

The company based in Hampstead, Maryland pointed out that actual results for the fourth quarter of fiscal 2013 will depend on, among other things, adjustments that may arise from the normal quarter-end processing. Jos. A. Bank Clothiers offers casual clothing, sportswear, footwear and accessories through 629 stores in 44 states and the District of Columbia, a nationwide catalog and an e-commerce website.