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Jos. A. Bank projects 3rd quarter earnings increase

Retailer expects earnings per share to rise 4 percent to 9 percent

By Lorraine Mirabella, The Baltimore Sun

12:42 PM EST, November 12, 2013

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Jos. A. Bank Clothiers Inc. expects earnings per share to rise from 4 percent to 9 percent in the third quarter, the Hampstead-based retailer said Tuesday.

The retailer is projecting earnings of about 49 cents per share to 51 cents per share for the three months that ended Nov. 2, excluding the cost of legal and professional services related to the chain's so-far unsuccessful bid for Men's Wearhouse for $2.3 billion. Bank reported earnings per share of 47 cents per share in the third quarter of 2012.

The chain expects total sales to increase in the mid-single digits, with sales at stores open at least a year expected to be flat.

"Our projected performance in the third quarter, which was somewhat affected by the government shutdown, marks a continuation of the positive trends we had seen at the end of the second quarter," said Bank CEO and President R. Neal Black in a statement.

Black said the company is seeing benefits from new marketing strategies and from increases in non-promotional sales.

The company, which runs 629 stores in 44 states, will announce its quarterly financial results on Dec. 5.

Lorraine.mirabella@baltsun.com