Jos. A. Bank Clothiers Inc. reported net income of $5.9 million for the first quarter, down from $6.7 million last year.
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Jos. A. Bank Clothiers Inc. reported net income of $5.9 million for the first quarter, down from $6.7 million last year.
The cataloger and retailer posted sales of $113.7 million for the quarter ended April 29, up 17.7% from $96.6 million last year.
The Hampstead, MD firm reported combined catalog and Internet sales increased 25% in the quarter.
"While our sales of new transitional spring products remained consistent with last year, gross profits declined primarily as a result of increased customer demand for fall merchandise, resulting in less demand for the year-round core merchandise," said David E. Ullman, CFO, in a statement.
