Stock Market Watch

Jos. A. Bank Clothiers Provides Disappointing Outlook For Q2 (JOSB)

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Shares of Jos. A. Bank Clothiers Inc. (NASDAQ: JOSB) tumbled about 6.50% in aftermarket hours on Thursday after the men’s apparel retailer said that both sales and EPS for the fiscal second quarter will fall short of Wall Street’s expectation.

The retailer said that aggressive marketing campaign failed to inspire customers, resulting in sharp decline in sales.

Earlier this week, BeaconLight Capital, an investment firm which holds more than 1% stake in JOSB, criticized the Company’s board and management for their lackadaisical attitude. The firm believes that the board and management are properly communicating with the shareholders even as it blamed the company for holding too much cash.

For the second quarter, JOSB expects an 11% drop in sales while EPS is expected in the range of 49 to 53 cents a share.

Analysts’ consensus estimate was for earnings of 68 cents a share on 3% sales increase.

In orders to counter flagging sales, the Company’s President and Chief Executive, R. Neal Black said that marketing events and other means (related media placements) will be used to bolster the top line growth.

Many other prominent retailers such as Wal-Mart Stores and Macy’s Inc have also slashed their earnings outlook, citing falling consumer spending.








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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