Jos. A. Bank Clothiers, Inc. (JOSB)

[m177]

JOSB: Co issues downside guidance for Q1 (Apr), sees EPS of $0.27-0.30 vs. $0.46 Capital IQ Consensus Estimate. "While we were able to control our expenses and improve our advertising efficiency in the quarter, our gross margin was down primarily due to higher inventory sourcing costs and lower average selling prices due mostly to increased percentage of sales of winter clearance products. In addition, our sales declined ~3%, primarily in April. Like many other retailers, we were also affected by the unseasonably cool weather. On the positive side, our Direct Marketing business, primarily on the Internet, continued to perform well, with double-digit sales growth. The Company continues to maintain a strong balance sheet and, despite the slow start to the new year, the first quarter of fiscal year 2013 will still be profitable." Note: Co is expected to report full earnings on May 29 (un-confirmed).