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Retail

Jos. A. Bank Earnings Send Shorts Scrambling (JOSB)

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By Douglas A. McIntyre Published
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JoS. A. Bank Clothiers, Inc. (NASDAQ: JOSB) has just announced its quarterly earnings report  for its Q1-2008.  Earnings rose by 18% to $0.53 EPS, compared to $0.45 EPS for Q1-2007 and compares to First Call estimates of $0.46 EPS.  Net income for Q1-2008 was $9.8 million, up from $8.4 million in Q1-2007.  Its total net sales increased 12.3% to $145.4 million from $129.5 million; comparable store sales increased 6.4% and direct marketing sales increased 0.2%.  First Call had revenues at $142.3 million.

As many of you know, this is one of the more heavily shorted retail apparel stocks out there.  As of May 15, it had 13.558 million shares listed in the short interest.  Shares are now up 8% at $29.50 after the news.  That was 14.57 days to cover, but was lower than some other recent readings. 

That is still plenty of shares to send short sellers scrambling. As far as garnering any guidance, it has a conference call late tomorrow morning.

Jon C. Ogg
June 4, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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