This year the company will open stores in 14 new markets. So far in its first fiscal quarter JoS. A. Bank has opened four units out of the five to seven planned. One of them, in New Mexico, was in a new state for the company.
Executives are still exploring acquisition opportunities for further growth. "We are exploring every possible option that comes our way," acknowledged Robert Wildrick, the company's director, chief executive officer and president, during the retailer's year-end conference call, adding "we're not going to do anything unless it makes real good business sense."
The growth is coming after a strong fourth quarter and year, which both ended Jan. 28, for the men's clothier. Same-store sales for the year were up 10.6% for the year and 15.9% in the fourth quarter.
Total sales for the year jumped 24.7%, to $464.6 million, while they rose 28.1%, to $163.8 million during the quarter. Net income last year leaped 44%, to $35.3 million.
Dress shirts and sportswear continued were the category leaders in the chain during the most recent quarter. JoS. A. Bank is also rolling out a new line of travel dress shirts by Father's Day.
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