Search
 

JoS. A. Bank Aims For 600 Units by 2012

HAMPSTEAD, MD-The men's clothier will open its 400th unit this October as it aims to reach $1 billion in annual sales within five years.

By Marita Thomas | Updated on September 13, 2007

HAMPSTEAD, MD-JoS. A. Bank Clothiers Inc. continues on a fast track to reach a goal of 600 stores and $1 billion in sales by 2012. This October it will open its 400th unit, which represents an addition of 300 since a new management team took the helm in 1999.

The men’s apparel chain opened 16 new units during the first half of this year, and “third quarter will be the busiest new store opening period of the year,” said Robert Wildrick, CEO, during a second-quarter conference call. He said of the 50 new units planned for 2006, between 20 and 25 will open in Q3. California, Texas and Arizona are among the locally based retailer’s targets.

During second quarter, net sales were up nearly 13% to $134.3 million. Second-quarter net income reached $8.2 million, up from $7 million for the prior-year quarter. For the six months ended Aug. 4, 2007, net income rose 29% to $16.6 million, compared with $12.8 million for the six fiscal months ended July 29, 2006.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.