Hampstead, Md. -- JoS A. Bank Clothiers reported that its earnings in the second quarter rose 12.7% to $23.2 million, from $20.6 million a year earlier, easily beating analysts projections. The retailer said it plans to open about 45 to 50 stores each in fiscal 2012 and 2013.
Total sales in the quarter rose 12.9% to $260.3 million. Sales in the company's direct marketing segment, which consists of the Internet and catalog call centers, rose 39.3%.Same-store store sales increased 6.1%.
The company said it now sees the potential to expand to approximately 800 locations in the United States, with some 700 full-line stores and 100 factory outlets, which is an increase from its previous assesment of 650 and 675 total stores.
JoS. A. Bank expects to open approximately 45 to 50 stores, including approximately 10 factory outlet locations, in fiscal years 2012