Originally published at www.seclive.com
Jos. A Bank Clothiers Inc. (NASDAQ:JOSB) announced its financial results for the fourth quarter and full fiscal year 2013, reporting a 9% rise in quarterly earnings per share. The men's clothing retailer reported a 4.7% increase in quarterly sales from a year ago, while earnings per share grew 9% from $0.98 per share to $1.07 per share. Jos. A Bank entered an agreement on March 11 to be acquired by Men's Wearhouse in a deal where Men's Wearhouse pays $65 per share, resulting in Jos. A Bank terminating its $825M planned purchase of Eddie Bauer. The acquisition is estimated to be complete by the third quarter. President and CEO Neal Black commented that the company's efforts to improve all-around performance are paying off and that it is proud of the progress it has made, even with severe winter weather conditions impacting consumer spending.
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