Joseph A. Bank

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JoS. A. Bank Clothiers Announces 11.5% Increase in June 2007 Sales; Comparable Store Sales Rise 0.4% HAMPSTEAD, Md.--(BUSINESS WIRE)--July 12, 2007--JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market: "JOSB") announces that its total net sales for the fiscal month ended July 7, 2007 (fiscal June 2007) increased 11.5% to $53.2 million versus $47.7 million in the fiscal month ended July 1, 2006 (fiscal June 2006). Comparable store sales gained 0.4% in fiscal June 2007, as compared with fiscal June 2006, while Direct Marketing sales increased 32.9%.

Comparing the five fiscal months ended July 7, 2007 with the five fiscal months ended July 1, 2006, total net sales increased 15.2% to $228.1 million from $198.0 million; comparable store sales increased 4.8%; and Direct Marketing sales increased 22.6%.

JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 389 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, MD, and its common stock is listed on the Nasdaq Global Select Market under the symbol "JOSB."

The Company's statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forecast due to a variety of factors outside of the Company's control that can affect the Company's operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, higher energy and security costs, the successful implementation of the Company's growth strategy including the ability of the Company to finance its expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, merchandise trends and changing consumer preferences, the effectiveness of the Company's marketing programs, the availability of lease sites for new stores, the ability to source product from its global supplier base, litigations and other competitive factors. Other factors and risks that may affect the Company's business or future financial results are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended February 3, 2007 and the Company's subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.


Second-quarter earnings at JoS. A. Bank Clothiers Inc. beat analyst estimates, and the clothier's stock rallied 8 percent on the news in midday trading Thursday.

The news comes after a big first-quarter earnings miss for Jos. A. Bank and a dip in comparable-store sales for August, both of which battered the company's stock.

Hampstead-based Jos. A. Bank earned $7 million in the quarter ended July 29, a 32 percent increase from a year ago. Earnings per share rose to 38 cents, beating by 3 cents the average estimate of analysts surveyed by Thomson Financial.

For the quarter ended July 29, comparable-store sales at Jos. A. Bank rose 10 percent from a year ago. Comparable-store sales, a key retail metric, typically measure sales at stores open at least a year. Jos. A. Bank does not include stores in its comparable-store tally until their second full year of operations. The company's total sales for the quarter rose 21 percent to $119 million. Combined catalog and Internet sales rose 19 percent.

Jos. A. Bank officials Thursday reaffirmed the company's earnings guidance for the year. The clothier expects to earn at least $2.15 per share, which would be an increase of at least 10 percent from the previous year.

"We believe we still have much growth ahead of us," said CFO David Ullman on a conference call with analysts Thursday morning.

Jos. A. Bank has long said it wants to reach 500 stores in the next few years; today, it has 346 stores. More recently, executives have been evaluating what to do after they reach the 500-store mark. Ullman said Thursday that Jos. A. Bank is evaluating whether it should open more than 500 stores in the United States, and expects to have much of its research done by year's end.

When Jos. A. Bank's first-quarter earnings came in low, officials said more of their springtime customers bought deeply discounted merchandise left over from fall than they had expected, cutting into profit margins. That led some investors to doubt Jos. A. Bank's decision to carry heavy inventories in fall 2005, though company officials have said they grew sales last year based on that decision.

Jos. A. Bank typically carries a heavier inventory load than some competitors, citing a program to keep basic items in stock in a range of sizes at all times. At the end of the fiscal year, Jos. A. Bank expects inventory increases will be in the single digits or teens from the end of 2005. The increase will include inventory to support new stores for 2007 and merchandise to support the holiday sales season, officials said.

At the end of the second quarter, inventories stood at $192 million, up 12 percent from a year earlier.

Jos. A. Bank's debt stood at $5.7 million at quarter's end, down $13 million from a year earlier.

Jos. A. Bank shares (NASDAQ: JOSB) rose 8 percent to $26 in midday trading.


Jos. A. Bank is not just another menswear retailer. What makes us unique is also what has attracted customers to our stores for 100 years; a heritage of quality and workmanship, an extensive selection of beautifully made, classically styled tailored and casual clothing, and prices typically 20 to 30 percent below our competitors'. Add to that an expert staff of sales professionals who prize service and customer satisfaction above all, and you get the idea.

Jos A Bank PHILOSOPHY

We couldn't have built a successful business without loyal customers, so at Jos. A. Bank our products are unconditionally guaranteed. Whether you shop online, at our stores, or through our seasonal catalogs, you'll find that at Jos. A. Bank, service isn't just a concept, it's an everyday occurrence.

To keep prices low, Jos. A. Bank has eliminated the middleman by working directly with some of the world's best factories and workrooms. That means we can pass significant savings along to customers. But that doesn't mean we scrimp on quality. Our buyers scour the globe for the finest fabrics with the richest textures and colors. Our tailors keep a close eye on every detail, adhering to the highest standards of fabric, fit and construction.

BANK NOTES Over 280 stores nationwide with a full selection of men's tailored and casual clothing, footwear and accessories 4 seasonal catalogs mailed internationally with toll-free ordering in the US 24 hours a day 7 days a week 100% guarantee of satisfaction behind every item we sell A heritage of 100 years of quality, value and service

Fiscal 2004 was a year marked by impressive operational and financial accomplishments at JoS. A. Bank Clothiers, Inc. As we continue our progress towards becoming the dominant menswear brand in the United States, here area few of the Company’s achievements during the past fiscal year:


Net sales increased over 24% to a record $373 million

Net income rose over 50% to a record $24.5 million

Diluted earnings per share increased 47% to a record $1.72

Operating income improved to a record 11.3% of sales

After-tax return on stockholders’ equity reached a record of over 24% The Company’s store base was expanded by 28% all funded from operating cash flows Record cash generated from operations allowed the Company to repay approximately $23 million in debt The price of josb shares on The Nasdaq Stock Market increased 53% during calendar year 2004

We opened 60 new stores during the fiscal year ended January 29, 2005 (Fiscal 2004), in both new and existing markets across the United States. These openings included our first stores in Washington and Nebraska, and we expanded the number of locations in California from 5 to 12 during our second year of retail store operations in that state.

Over 40% of the new stores were located in lifestyle centers— a retailing format that is performing very well for the Company while most of the other new stores opened in financial districts, malls and other real estate sites that also have been successful in the past. I am pleased to report that average operating profit percent for all stores improved in fiscal 2004 for the fifth consecutive year. Our aggressive store expansion program will continue in 2005, when we expect to add 60 to 75 new locations to our retail network.

During the second half of 2004, we launched a national brandbuilding campaign on television and in select magazines (e.g. Forbes, Fortune, Golf Digest). We also tested television as a promotional medium and believe this can play an important role in our long-term advertising strategy.

Sales of our Luxury Signature and Signature Gold lines of suits and related accessories continued to grow at a faster rate than our overall business. These luxury brands, which have been expanded in the past several years, now represent over one-third of our aggregate suit and tie sales.

In the Performance category, we introduced a line of stainresistant and wrinkle-resistant polo shirts and casual pants during the spring of 2004. As part of our popular Traveler line, these new products were very successful, and we introduced similar merchandise into our Suit Separates program during the fourth quarter.

We were pleased with the results of both our new and existing stores during the most recent fiscal year. Our sales increase of 24.3% included a comparable-store sales gain of 8.4% and a total store sales gain of 25.2%. We also had a gain of 22.7% in our catalog and internet sales. The new brand-building media campaign that was launched last year is designed to benefit the multi-channel retailing strategy that has proven so successful for our Company in recent years.

From a balance sheet perspective, we ended the fiscal year in excellent shape. The Company generated over $51 million cash from operations during fiscal 2004, which allowed us to open 60 new stores and expand our distribution center, while paying down approximately $23 million in debt. We ended the year with less than $7 million of debt and the Company is well-positioned to finance additional store expansion in fiscal 2005.

During fiscal 2004, Jos. A. Bank Clothiers once again outperformed most public companies in many categories. Our earnings per diluted share (“eps”) rose over 47% to a record $1.72, when compared with eps of $1.17 in the previous fiscal year. This was our fourth consecutive year of record annual earnings, and quarterly profits have risen in each of the past 14 reporting periods when compared with the corresponding prior year period. Our operating income margins and return on equity also reached record levels, and our common stock, which trades on the Nasdaq National Market system under the symbol josb, appreciated approximately 53% in price during the calendar year 2004.

While we are proud of the Company’s achievements and the outstanding returns we have delivered to shareholders in recent years, our goals for the future are no less ambitious. Even though we now have stores in 37 states, management is enthusiastic about the opportunity for further expansion in new and existing markets. We continue to target a double digit annual earnings gain in fiscal 2005 as part of our plan to grow the store base to a projected 500 locations by the end of fiscal 07.

As stated at the beginning of this letter, our primary goal is for JoS. A. Bank Clothiers to become recognized as the dominant menswear brand in the united states, and I believe we are well along the road towards accomplishing this objective. On behalf of our management team and the Board of Directors, I would like to thank all of our customers, vendors, and shareholders for their continued support, and I look forward to reporting further upon our progress during 2005.


JoS. A. Bank Clothiers Announces 15.3% Increase in July Sales; Second Quarter Earnings Per Share to Increase at Least 38%

HAMPSTEAD, Md.--(BUSINESS WIRE)--Aug. 4, 2005--JoS. A. Bank Clothiers, Inc. (NASDAQ National Market: "JOSB") announces that its total sales for the fiscal month ended July 30, 2005 (fiscal July 2005) increased 15.3% to $27.1 million compared with $23.5 million in fiscal July 2004. Comparable store sales increased 0.5% when compared with the month of July 2004, while combined catalog and internet sales increased 21.5%. 

CONTACT: Jos. A. Bank Clothiers, Inc., Hampstead, MD
E-commerce Address for JoS. A. Bank Clothiers, Inc.:
www.josbank.com
SOURCE: Joseph. A. Bank Clothiers, Inc.


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