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Mens' clothing retailer JoS A. Bank Clothiers (NASDAQ: JOSB) announced its fiscal-year profit this morning -- logging rather impressive earnings of $3.17 per share. A year ago, JOSB reported earnings of $2.72 per share. This year's results were also 10 cents better than what the Street expected. Yearly net sales increased to $695.9 million, up from $604 million a year ago.
Many may find it difficult to believe that a clothing retailer could have a better year this year than last, what's the deal? One reason could be that JOSB delivers quite a bit of value for the dollar. For those not familiar with the company, men can purchase a complete "work-appropriate" outfit for less than $400 (from the suit jacket to the socks).
Yes, there are some items that are more than $400, but the clothier offers constant sales where men can purchase two suits for the price of one. There are also frequent clearance section sales with large markdowns. Perhaps some businessmen have started to learn the value of the dollar, leading them to JOSB.
Furthermore, the company recently announced that it will refund customers $199 for any suit purchased by April 9 if they lose their job (the coverage is good until July 1, but I would guess we could see this extended). Perhaps you may think this coverage isn't much, but offering peace of mind during uncertain times can help a company. Bottom line: JOSB offers quite the deal for the money, and it is now lending confidence to the consumer -- this could be the recipe for better performance (that is, if solid earnings aren't).
Technically, the stock is battling resistance at the $30 level, but stronger-than-expected earnings could help push the stock higher. In addition, the equity is perched on support from its 10-month moving average -- which is on the verge of a bullish cross of its 20-month counterpart. Such a move can be a bullish long-term indicator. Keep an eye on JOSB throughout today's session, if it can weather what seems to be a bear's day, JOSB could be well-positioned to enjoy a run higher.
Furthermore, the company recently announced that it will refund customers $199 for any suit purchased by April 9 if they lose their job (the coverage is good until July 1, but I would guess we could see this extended). Perhaps you may think this coverage isn't much, but offering peace of mind during uncertain times can help a company. Bottom line: JOSB offers quite the deal for the money, and it is now lending confidence to the consumer -- this could be the recipe for better performance (that is, if solid earnings aren't).
Technically, the stock is battling resistance at the $30 level, but stronger-than-expected earnings could help push the stock higher. In addition, the equity is perched on support from its 10-month moving average -- which is on the verge of a bullish cross of its 20-month counterpart. Such a move can be a bullish long-term indicator. Keep an eye on JOSB throughout today's session, if it can weather what seems to be a bear's day, JOSB could be well-positioned to enjoy a run higher.
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