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2Q Profit Up at Jos. A. Bank

BY CSA STAFF

Hampstead, Md., Jos. A Bank Clothiers Inc. said that second-quarter profits rose 56% on strong sales. The men’s apparel retailer beat Wall Street estimates and raised its outlook for the year.

The company said quarterly net income grew to $5.3 million, or 37? per share, from $3.4 million, or 24? per share, a year ago. Revenue rose 20% to $98.6 million from $82 million last year as same-store sales rose 4.9%. Internet sales increased 23.4% from a year ago.

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Farmer Jack to Close Stores After No Deal

BY CSA STAFF

Montvale, N.J., Farmer Jack parent company Great Atlantic & Pacific Tea Co. has announced that it will close four Farmer Jack stores in New Jersey after a union vote earlier this week rejected a proposed contract amendment.

The amendment to cut wages by 10% was designed to help the parent company sell the chain.

The closures will occur over the next 30 days.

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Farmer Jack to Close Stores After No Deal

BY CSA STAFF

Montvale, N.J., Farmer Jack parent company Great Atlantic & Pacific Tea Co. has announced that it will close four Farmer Jack stores in New Jersey after a union vote earlier this week rejected a proposed contract amendment.

The amendment to cut wages by 10% was designed to help the parent company sell the chain.

The closures will occur over the next 30 days.

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