FINANCE

JoS. A. Bank Q3 profit up 19%

BY Staff Writer

Hampstead, Md. — JoS. A. Bank Clothiers said that net income for the third quarter of fiscal year 2011, ended Oct. 29, 2011, increased 19.3% to $15.0 million verses $12.6 million in the year-ago period. However, the chain warned that its forth quarter has started out more slowly than expected, and that it has adjusted its December merchandising and marketing plans for the stores.

Total sales increased 21.0% to $209.6 million, from $173.3 million. Same-store sales rose 14.6% and direct marketing sales increased 28.6%.

“With this quarter’s results, we have achieved earnings growth in 40 of the past 41 quarters when compared to the respective prior year periods, including 22 quarters in a row," stated R. Neal Black, president and CEO of JoS. A. Bank Clothiers.

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OPERATIONS

RadioShack on hunt for creative agency

BY Staff Writer

Fort Worth, Texas — RadioShack Corp. has initiated a formal review of its creative agency of record for the U.S. general market. RadioShack reported total advertising expenses of approximately $206 million for the fiscal year ended Dec. 31, 2010.

To help navigate the review process, RadioShack has retained the services of Select Resources International (SRI), an agency-review consulting firm based in Santa Monica, Calif.

The retailer said the search will focus on identifying world-class agencies capable of delivering transformational creative concepts in a highly competitive retail landscape.

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OPERATIONS

City Sports makes executive appointments

BY Staff Writer

Boston — City Sports announced the appointment of Debi Binder to VP marketing and Dana Klein to director of e-commerce.

Binder most recently served as a senior VP for CCA Global Partners. Prior to City Sports, Klein managed operations and merchandising at Puma North America for the brand’s shop.puma.com site.

Binder and Klein are the latest additions to the retailer’s growing organization, which opened three new retail stores in the past year in Washington, D.C., Wayne, Pa., and Wellesley, Mass. The brand also updated and relaunched its private label earlier this year with the unveiling of the CS by City Sports apparel line in the spring.

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