Jos. A Bank Defying All Odds, Executing Well

Zachary Scheidt submits:

Investors in Jos. A Bank (JOSB) are simply not participating in the current recession. Over the past several weeks the stock has risen from a low near $20 to its current spot in the high $30’s. Most recently, the stock gapped higher after the company reported earnings for its fiscal year which ended Jan 31, 2009. While analysts expected the company to actually see earnings drop over the last quarter, the upscale clothing company had a surprise up its sleeve.

Earnings for the fourth quarter came in at $1.66 per share compared to $1.45 last year. The number was good for a 14% increase despite the truly challenging holiday season. While most retailers were struggling just to stay profitable (or even just to stay in business), JOSB was actually turning in robust growth. The strong fourth quarter left the company

with record profits of $3.17 per share and sales of $695.9 million. Pretty impressive for a company that actually sells completely discretionary items!

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