JoS. A. Bank Clothiers, Inc. (JOSB) built momentum during the dark retail days of 2009 and posted record sales for the year. JOSB is trading with a forward P/E of 14.2.

Company Description

JoS. A. Bank sells men’s suits, tuxedos, casual clothing, footwear and accessories through 473 stores in 42 states and the District of Columbia and through its web site, www.josbank.com. The company has a 100% money back guarantee on its products.

JoS. A. Bank Saw Record Sales in Fiscal 2009

On Mar 31, JoS. A. Bank reported its fiscal 2009 and fourth quarter results (which ended on Jan 30, 2010) and easily beat the Zacks Consensus for the fourth quarter by 18.5%. It was the company’s fourth earnings surprise in a row.

Earnings per share were $2.32 compared to the Zacks Consensus of $1.78. For the fiscal year, earnings per share rose 21% to $3.84 from $3.17 in fiscal 2008.

Sales jumped 10.7% for the year to a record $770.3 million from $695.9 million in fiscal 2008. Comparable store sales rose 6.3% during the year. Direct Marketing sales also climbed 12.2%.

JoS. A. Bank has a solid balance sheet. It ended the year with $21.9 million in cash and $169.7 million in short-term investments. It has no debt.

Zacks Consensus Estimates Jump

Analysts are still bullish about JoS. A. Bank heading into fiscal 2010 even though the stock has hit all-time highs and 2009 saw record sales.

The first quarter Zacks Consensus Estimate has risen 3 cents to 68 cents per share in the last 7 days as 2 estimates have risen in that time period.

The fiscal 2011 Zacks Consensus also jumped by 12 cents to $4.17 in the last week with 3 estimates revised higher during that time.

Value Fundamentals

JoS. A. Bank is a Zacks #1 Rank (strong buy) stock. It has a price-to-book ratio of 2.8, which is under the value parameter of 3.0. The company has a stellar 5-year average return on equity (ROE) of 22.1%.

Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor in charge of the market-beating Zacks Value Trader service.

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