Jos. A Bank Clothiers Earnings: Everything You Must Know Now

Jos. A Bank Clothiers Inc. (NASDAQ:JOSB) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Jos. A Bank Clothiers Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 45.28% to $0.29 in the quarter versus EPS of $0.53 in the year-earlier quarter.

Revenue: Decreased 2.61% to $196.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Jos. A Bank Clothiers Inc. reported adjusted EPS income of $0.29 per share. By that measure, the company met the mean analyst estimate of $0.29. It beat the average revenue estimate of $195.41 million.

Quoting Management: R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated: “While we were able to control our expenses and improve our advertising efficiency in the quarter, our sales declined 2.6%, primarily in April. In addition, our gross profit margin was down primarily due to higher inventory sourcing costs and lower average selling prices due mostly to an increased percentage of sales of winter and other clearance products. Like many other retailers, we were also affected by the unseasonably cool weather which adversely impacted both our sales and gross profit margin. On the positive side, our Direct Marketing business, driven primarily by the Internet, continued to perform well, with double-digit sales growth. The Company continues to maintain a strong balance sheet and, despite the slow start to the new year, the first quarter of fiscal year 2013 was still profitable.”

Key Stats (on next page)…

Revenue decreased 44.72% from $354.77 million in the previous quarter. EPS decreased 71% from $1.00 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.85 to a profit $0.71. For the current year, the average estimate has moved down from a profit of $3.17 to a profit of $2.94 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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