Jos. A. Bank Sets Record EarningsJos. A. Bank Clothiers Inc., Hampstead, MD, announced record sales and earnings for the second quarter and first half of fiscal year 2003.
For the second quarter ended Aug. 2, net income more than doubled, rising 111 percent to $2 million compared with the same period of the prior year.
For the first half, net income skyrocketed 56 percent to $4.2 million from $2.7 million in the same period of the prior year.
Total net sales for the quarter increased 24.1 percent to $64.4 million. Comparable-store sales rose 12.5 percent as combined catalog and Internet sales climbed 12 percent.
Total net sales for the six months ended Aug. 2 increased 17.8 percent to $126.7 million. Comparable-store sales rose 6.3 percent while combined catalog and Internet sales increased 13.7 percent.