Jos. A. Bank Beats Third Quarter Earnings Estimates

Jos. A. Bank (NASDAQ:JOSB) reported Q3 earnings before the markets opened today, posting an EPS of $0.54 beating analyst expectations of $0.51 per share. Revenue rose 21% year over year to $209.6 million higher than consensus estimates of $196.03 million.

R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated, "We are pleased to report another solid sales and earnings performance for the third quarter of fiscal year 2011 with sales growth of 21.0% and earnings growth of 19.3%. 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. The fourth quarter, compared to a very strong performance last year, has started out more slowly than we had planned. November comparable store sales declined, while our direct segment sales increased, compared to the same period last year. As a result, we have adjusted our December merchandising and marketing plans for stores. We believe our efforts will be effective and appealing to our customers. Therefore we remain cautiously optimistic for the outcome of this year's fourth quarter."

JOS A Bank Clothiers (NASDAQ:JOSB) has potential upside of 21.2% based on a current price of $51.17 and an average consensus analyst price target of $62.

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