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Solid Q3 earnings could push JoS. A. Bank through long-term resistance

Some people (mainly ZZ Top and corporate bigwigs) will tell you dressing well is key. Let's add JoS. A. Bank Clothiers (JOSB) to that list, as the men's fine clothing provider announced that its third-quarter profit increased by 26%.

The company raked in 63 cents per share compared to 50 cents per share a year ago. Moreover, these results handily topped the consensus estimate for 55 cents per share. Sales increased to $161.3 million from $149.3 million a year ago, besting the consensus estimate for $160.2 million.

Continue reading Solid Q3 earnings could push JoS. A. Bank through long-term resistance

Will JoS. A. Bank benefit from Men's Wearhouse's earnings results?

Wednesday, Men's Wearhouse (NYSE: MW) posted solid earnings results but a disappointing forecast. Just a week ago, JoS. A. Bank (NASDAQ: JOSB) saw its second-quarter earnings increase 40% as well. The company earned 68 cents per share in the quarter, easily outpacing expectations for a profit of 54 cents per share. Unlike Men's Wearhouse, JoS. A. Bank did not issue a disappointing forecast -- so the stock has vaulted above prior resistance at the $44 level, which could now act as support.

Turning to a monthly chart for JoS. A. Bank, the stock is facing a crucial point -- as it is nearing its 2004 high in the $48 region. If the stock can topple this region, we could see it challenge the all-time highs set in September 2008. Considering the fact that the company's sales grew 10% in the latest quarter, I feel that a new all-time high may be a short jump away.


Continue reading Will JoS. A. Bank benefit from Men's Wearhouse's earnings results?

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Last updated: May 27, 2012: 03:11 AM

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