Men's retailer Jos. A. Bank Clothiers Inc. said Wednesday that fiscal first quarter earnings increased 37 percent as consumers continued to shop its bargains.
Net income for the quarter ended May 1 was $15.8 million, or 85 cents per share. That was compared to $11.5 million, or 62 cents per share, for the same period a year ago.
The Hampstead-based retailer reported comparable stores sales, or sales for stores open at least a year, increased 10.4 percent, while catalog and Internet sales declined 0.6 percent.
"Our combination of offering high quality men's clothing at a great value continues to drive solid traffic with our current customers and also has been successful at attracting new customers and expanding market share," R. Neal Black, president of Jos. A. Bank, said in a statement.