JoS. A. Bank Clothiers, Inc. reported that net income for the third quarter increased 26% over the same period in 2008 to $11.7 million.
Earnings per share was $0.63 per share, compared to $0.50 per share for the third quarter of fiscal year 2008. Total sales for the third quarter, ended Oct. 31, increased 8.1% to $161.3 million from $149.3 million in the same period last year, while comparable store sales increased 3.3% and direct marketing sales increased 21.2%.
For the first nine months of fiscal '09, net income increased 27% to $35.7 million, versus $28.0 million last year, and earnings per share increased 27% to $1.93 per share, as compared to $1.52 per share.
Total sales for the first nine months of the year increased 9.7% to $491.0 million from $447.4 million for the first nine months of fiscal year 2008 while comparable store sales increased 4.6% and direct marketing sales increased 7.4%.
“Despite the continued pressure we are facing from the difficult national economy, our business model is performing very well,” said R. Neal Black, president and CEO of the Hampstead, MD-based men's clothing marketer, in a statement.
