JoS. A. Bank Clothiers, Inc. (NASDAQ Global Select Market: "JOSB") announces that its total sales for the fiscal month ended October 28, 2006 (“fiscal October 2006”) increased 18.1% to $43.7 million, as compared with $37.0 million in fiscal October 2005. Comparable store sales increased 8.4% in fiscal October 2006, as compared with fiscal October 2005. Combined catalog and Internet sales increased 9.8% in fiscal October 2006, as compared with the same prior year period.
Comparing the third fiscal quarter ended October 28, 2006 with the comparable prior year period, total sales increased 13.2% to $119.5 million from $105.6 million; comparable store sales increased 2.3%; and combined catalog and Internet sales increased 21.3%.
Comparing the fiscal nine months ended October 28, 2006 with the comparable prior year period, total sales increased 17.1% to $352.3 million from $300.8 million; comparable store sales increased 5.6%; and combined catalog and Internet sales increase 21.7%.
The Company also noted that it has opened 35 stores in the first nine months of fiscal 2006, with additional openings planned in the fourth quarter.
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 359 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 anticipated 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, fashion 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 our business or future financial results are detailed in our filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended January 28, 2006 and the Company's Quarterly Report on Form 10-Q for the quarter ended July 29, 2006. 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.
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