Photo Release -- JoS. A. Bank Clothiers Announces the Opening of Its 600th Store; Company Plans to Grow to 800 Stores
December 03 2012 - 5:00AM
JoS. A. Bank Clothiers, Inc. (Nasdaq:JOSB), announces the opening
of its 600th store. The 600th store opened Friday, November 30,
2012, in the Shops at Midtown Miami on North Miami Avenue in Miami,
Florida.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=16039
JoS. A. Bank has opened more than 190 stores in the past five
years. It expects to open another 200 stores in the future as part
of its long-term plan to grow the chain to approximately 800
stores, including 700 full-line stores and 100 factory stores in
the United States, depending on, among other factors, the
performance of the Company and the availability of suitable real
estate over the next several years. So far in fiscal year
2012, JoS. A. Bank has opened 45 stores (35 full-line and 10
factory) and expects to open up to 47 stores for the entire
year.
"We are pleased with the success of our new stores, which
continue to capture new customers at a high rate," stated R. Neal
Black, CEO of JoS. A. Bank. "Our new stores provide convenient
shopping locations for new and existing customers, while delivering
high quality products at a great value. Achieving the 600
store level represents a significant milestone for the Company.
Over the past 5 years, we have opened more than 190 new stores and
created more than 3,000 jobs in the United States. Our balance
sheet continues to be strong and it positions us to be able to
focus on the long-term growth prospects of the Company," continued
Mr. Black.
In addition to the 600th store in Miami, Florida, the Company
opened its 601st store on Friday, November 30, 2012 in the Great
Lakes Crossing factory outlet center in Auburn Hills, Michigan.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the
nation's leading designers, manufacturers and retailers of men's
classically-styled tailored and casual clothing, sportswear,
footwear and accessories. The Company sells its full product
line through 601 stores in 44 states and the District of Columbia,
a nationwide catalog and an e-commerce website that can be accessed
at www.josbank.com. The Company is headquartered in Hampstead, Md.,
and its common stock is listed on the NASDAQ Global Select Market
under the symbol "JOSB."
Our statements concerning future operations contained herein are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those forecasted due to a variety of factors
outside of our control that can affect our operating results,
liquidity, and financial condition. Such factors include risks
associated with economic, weather, public health and other factors
affecting consumer spending, including negative changes to consumer
confidence and other recessionary pressures, higher energy and
security costs, the successful implementation of our growth
strategy, including our ability to finance our expansion plans, the
mix and pricing of goods sold, the effectiveness and profitability
of new concepts, the market price of key raw materials such as wool
and cotton, seasonality, merchandise trends and changing consumer
preferences, the effectiveness of our marketing programs, including
compliance with relevant legal requirements, the availability of
suitable lease sites for new stores, doing business on an
international basis, the ability to source product from our global
supplier base, legal and regulatory matters and other competitive
factors. The identified risk factors and other factors and risks
that may affect our business or future financial results are
detailed in our filings with the Securities and Exchange
Commission, including, but not limited to, those described under
"Risk Factors" in our Annual Report on Form 10-K for the year ended
January 28, 2012 and our subsequent Quarterly Reports on Form
10-Q filed through the date hereof. These cautionary statements
qualify all of the forward-looking statements we make herein. We
cannot assure you that the results or developments anticipated by
us will be realized or, even if substantially realized, that those
results or developments will result in the expected consequences
for us or affect us, our business or our operations in the way we
expect. We caution you not to place undue reliance on these
forward-looking statements, which speak only as of their respective
dates. We do not undertake an obligation to update or revise any
forward-looking statements to reflect actual results or changes in
our assumptions, estimates or projections. These risks should be
carefully reviewed before making any investment decision.
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
JoS. A. Bank Clothiers, Inc., Hampstead,
Md. |
David E. Ullman |
EVP/CFO |
410-239-5715 |
|
or Investor Relations Information Request
Website
(http://phx.corporate-ir.net/phoenix.zhtml?c=113815&p=irol-IRHome), |
or Investor Relations Voicemail,
410-239-5900 |
|
E-commerce Address for JoS. A. Bank
Clothiers, Inc.: |
www.josbank.com |
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