-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Wt24HarTGAlKikQ4MZ+KvoXNqY0qhUCf8WAqDRzBBotBIIQBbUe+o4JpFRVNDh3T dfNsefgYFMNkvktXfJUOuQ== 0000950168-99-001806.txt : 19990616 0000950168-99-001806.hdr.sgml : 19990616 ACCESSION NUMBER: 0000950168-99-001806 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990501 FILED AS OF DATE: 19990615 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANK JOS A CLOTHIERS INC /DE/ CENTRAL INDEX KEY: 0000920033 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-APPAREL & ACCESSORY STORES [5600] IRS NUMBER: 363189198 STATE OF INCORPORATION: DE FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-23874 FILM NUMBER: 99646903 BUSINESS ADDRESS: STREET 1: 500 HANOVER PIKE CITY: HAMPSTEAD STATE: MD ZIP: 21074 BUSINESS PHONE: 4102392700 10-Q 1 JOS. A BANK CLOTHIERS, INC. 10-Q United States Securities and Exchange Commission Washington, DC 20549 FORM 10 - Q x Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended May 1, 1999 ----------- or Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 0-23874 ---------- Jos. A. Bank Clothiers, Inc. Delaware 5611 36-3189198 -------- ---- ---------- (State incorporation) (Primary Standard (I.R.S. Employer Industrial Identification Classification Number) Code Number) 500 Hanover Pike, Hampstead, MD 21074-2095 ------------------------------- ---------- none ---------------------------------- (Former name or former address, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x ] No [ ] Indicate the number of shares of each of the issuer's classes of common stock, as of the latest practicable date: Class Outstanding as of June 11, 1999 ---------------------------- ------------------------------- Common stock. $.01 par value 6,792,027 Jos. A. Bank Clothiers, Inc. Index ----- Part I. Financial Information Page No. - ------- --------------------- -------- Item 1. Financial Statements Condensed Consolidated Statements 3 of Income - Three Months ended May 1, 1999 and May 2, 1998 Condensed Consolidated Balance 4 Sheets - as of May 1, 1999 and January 30, 1999 Condensed Consolidated Statements 5 of Cash Flows -Three Months ended May 1, 1999 and May 2, 1998 Notes to Condensed Consolidated 6-9 Financial Statements Item 2. Management's Discussion and Analysis 9-13 of Results of Operations and Financial Condition Part II. Other Information - -------------------------- Item 6. Exhibits and Reports on Form 8-K 13 (a) Exhibits - Exhibit 27-Financial Data Schedule (EDGAR filing only) Signatures 14 - ---------- 2 PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands except per share data) (Unaudited)
Three Months Ended ------------------ May 1, May 2, 1999 1998 ---- ---- Net sales $ 43,607 $ 43,383 Costs and expenses: Cost of goods sold 21,499 22,151 General and administrative 4,344 4,528 Sales and marketing 16,609 14,670 Store opening costs 53 240 ------ ------ 42,505 41,589 ------ ------ Operating income 1,102 1,794 Interest expense, net 328 437 ------ ------ Income from continuing operations before provision for income taxes 774 1,357 Provision for income taxes 302 529 ------ ------ Income from continuing operations 472 828 Loss from discontinued operations (net of tax) -- (51) ------ ------ Net income $ 472 $ 777 ====== ====== Earnings per share: Income from continuing operations: Basic $ .07 $ .12 Diluted $ .07 $ .12 Discontinued operations (net of tax): Basic $ .00 $ (.01) Diluted $ .00 $ (.01) Net income: Basic $ .07 $ .11 Diluted $ .07 $ .11 Weighted average shares outstanding: Basic 6,792 6,791 Diluted 6,971 6,918 See accompanying notes.
3 JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
May 1, January 30, 1999 1999 ----------- ------------- ASSETS Current Assets: Cash and cash equivalents $ 815 $ 748 Accounts receivable 4,084 2,808 Inventories: Raw materials 5,761 5,178 Finished goods 42,624 39,650 ------ ------ Total inventories 48,385 44,828 ------ ------ Prepaid expenses and other current assets 4,617 4,189 Deferred income taxes 2,697 2,883 ------- ------ Total current assets 60,598 55,456 ------ ------ Property, plant and equipment, at cost 53,500 51,779 Accumulated depreciation and amortization (28,104) (27,232) ------ ------ Net property, plant and equipment 25,396 24,547 ------ ------ Deferred income taxes 1,995 2,000 Other assets 431 512 ------ ------ TOTAL ASSETS $ 88,420 $ 82,515 ====== ====== LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 14,653 $ 14,012 Accrued expenses 14,033 12,504 Current portion of long-term debt 1,100 1,111 Net current liabilities of discontinued operations 1,164 767 ------- ------- Total current liabilities 30,950 28,394 Long-term liabilities 14,664 11,808 ------ ------ Total liabilities 45,614 40,202 ------ ------ Shareholders' equity: Common stock 70 70 Additional paid-in capital 56,414 56,393 Accumulated deficit (11,758) (12,230) ------ ------ 44,726 44,233 Less treasury stock (1,920) (1,920) ------ ------ TOTAL SHAREHOLDERS' EQUITY 42,806 42,313 ------ ------ TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 88,420 $ 82,515 ====== ======
See accompanying notes. 4 JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
Three Months Ended ------------------ May 1, May 2, 1999 1998 ------ ------ Cash flows from operating activities: Net income $ 472 $ 777 Loss from discontinued operations -- 51 ------ ----- Income from continuing operations 472 828 Adjustments to reconcile net income to net cash used in operating activities: Decrease in deferred taxes 191 419 Depreciation and amortization 937 950 Stock based compensation 21 17 Net increase in operating working capital (2,998) (4,032) ------ ----- NET CASH USED IN OPERATING ACTIVITIES OF CONTINUING OPERATIONS (1,377) (1,818) ------ ----- Cash flows from investing activities: Additions to property, plant and equipment (1,786) (1,550) ------ ----- NET CASH USED IN INVESTING ACTIVITIES OF CONTINUING OPERATIONS (1,786) (1,550) ------ ----- Cash flows from financing activities: Borrowings under long-term Credit Agreement 13,345 10,625 Repayment under long-term Credit Agreement (10,431) (7,090) Borrowings of other long-term debt -- 277 Repayment of other long-term debt (81) (88) ------ ----- NET CASH PROVIDED BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS 2,833 3,724 Net cash provided by (used in) discontinued operations 397 (243) ------ ----- Net increase in cash and cash equivalents 67 113 Cash and cash equivalents - beginning of period 748 564 ------ ----- Cash and cash equivalents - end of period $ 815 $ 677 ====== =====
See accompanying notes. 5 Jos. A. Bank Clothiers, Inc. S.E.C. Form 10-Q, 5/1/99 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------------------- (Unaudited) 1. BASIS OF PRESENTATION Jos. A. Bank Clothiers, Inc. (the Company) is a nationwide retailer of classic men's clothing through conventional retail stores, catalog and internet direct marketing and franchises. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the fiscal year. In the opinion of management, the information contained herein reflects all adjustments necessary to make the results of operations for the interim periods a fair statement of such operations. These adjustments are of a normal recurring nature. Certain notes and other information have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. Therefore, these financial statements should be read in conjunction with the Company's January 30, 1999 Annual Report on Form 10-K. 2. SIGNIFICANT ACCOUNTING POLICIES Inventories are stated at the lower of first-in, first-out, cost or market. The Company capitalizes into inventories certain warehousing and delivery costs associated with getting its inventory to the point of sale. Costs related to mail order catalogs and promotional materials are included in prepaid expenses and other current assets. These costs are amortized over the expected periods of benefit, not to exceed six months. The Company accounts for income taxes in accordance with Statement of Financial Accounting Standards No. 109 - Accounting for Income Taxes (SFAS 109). This standard requires, among other things, recognition of future tax benefits, measured by enacted tax rates attributable to deductible temporary differences between financial statement and income tax basis of assets and liabilities and to tax net operating loss carryforwards, to the extent that realization of such benefits is more likely than not. Reclassifications - Certain reclassifications have been made to the May 2, 1998 financial statements in order to conform with the May 1, 1999 presentation. 6 Jos. A. Bank Clothiers, Inc. S.E.C. Form 10-Q, 5/1/99 3. WORKING CAPITAL The net change in operating working capital is composed of the following:
Three Months Ended ------------------ May 1, May 2, 1999 1998 ---- ---- Increase in accounts receivable $ (1,276) $ (729) Increase in inventories (3,557) (6,840) Increase in prepaids and other assets (428) (279) Increase in accounts payable 641 3,062 Increase in accrued expenses and other liabilities 1,622 754 ------- ------- Net increase in operating working capital $ (2,998) $ (4,032) ======= ======= 4. EARNINGS PER SHARE Earnings Per Share - Statement of Financial Accounting Standards (SFAS) No. 128 requires presentation of basic earnings per share and diluted earnings per share. The weighted average shares used to calculate basic and diluted earnings per share in accordance with SFAS No. 128 is as follows: Three Months Ended May 1, May 2, 1999 1998 ------- ------ Weighted average shares outstanding for basic EPS 6,792 6,791 Diluted EPS: Dilutive effect of common stock equivalents 179 127 ------- ------ Weighted average shares outstanding for diluted EPS 6,971 6,918 ======= =======
Weighted average shares outstanding for calculating dilutive EPS include basic shares outstanding, plus shares issuable upon the exercise of stock options, using the treasury stock method. 7 Jos. A. Bank Clothiers, Inc. S.E.C. Form 10-Q, 5/1/99 5. DISCONTINUED OPERATIONS Summarized financial information for the discontinued operations is as follows (in thousands): Three Months Ended ------------------------- May 1, May 2, 1999 1998 ---------- --------- Loss before income taxes $ -- $ (84) Net loss $ -- $ (51) As of As of May 1, Jan. 30, 1999 1999 ---------- --------- Current assets $ 591 $ 1,159 Current liabilities 1,755 1,926 ---------- --------- Net current (liabilities) $ (1,164) $ (767) ========== ========= Noncurrent assets $ 241 $ 241 Noncurrent liabilities 241 241 ---------- --------- Net noncurrent assets $ -- $ -- ========== ========== Revenues of the manufacturing operations primarily represent intercompany sales which have been eliminated in consolidation. Net current and noncurrent assets/liabilities of discontinued operations noted above includes receivables, pension termination and other transaction costs associated with the discontinued manufacturing operations. 6. SEGMENT REPORTING The Company has two reportable segments: full line stores and catalog direct marketing. While each segment offers a similar mix of men's clothing to the retail customer, the full line stores also provide alterations. The accounting policies of the segments are the same as those described in the Company's January 30, 1999 Annual Report on Form 10K. The Company evaluates performance of the segments based on "four wall" contribution which excludes any allocation of "management company" costs, distribution center costs (except order fulfillment costs which are allocated to catalog), interest and income taxes. Certain segment data is presented in the following table: 8 Jos. A. Bank Clothiers, Inc S.E.C.Form 10-Q 5/1/99
QUARTER ENDED MAY 1, 1999 Full line Catalog Direct (in thousands) Stores Marketing Other Total --------- --------------- ---------- --------- Net sales $ 37,631 $ 4,481 $ 1,495 (a) $ 43,607 Depreciation and amortization 741 4 192 937 Operating income (b) 5,128 622 (4,648) 1,102 QUARTER ENDED MAY 2, 1998 (in thousands) Net sales $ 37,869 $ 3,872 $ 1,642 (a) $ 43,383 Depreciation and amortization 652 7 291 950 Operating income (b) 5,981 553 (4,740) 1,794
(a) Revenue from segments below the quantitative thresholds are attributable primarily to four operating segments of the Company. Those segments include outlet stores, franchise, regional tailor shops and showroom stores. None of these segments has ever met any of the quantitative thresholds for determining reportable segments. (b) Operating income represents profit before allocations of overhead from corporate office and the distribution center, interest and income taxes. 7. SUBSEQUENT EVENT Subsequent to the end of the first quarter of 1999, the Company's Chairman and CEO retired and the Company will record a one-time charge associated with that event of approximately $1.8 million in the second quarter of 1999. In addition, the Company expects to incur about $.4 million of costs related to the search for and placement of the successor. Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION The following discussion should be read in conjunction with the attached condensed consolidated financial statements and notes thereto and with the Company's audited financial statements and notes thereto for the fiscal year ended January 30, 1999. OVERVIEW - Income from continuing operations for the quarter ended May 1, 1999 was $.5 million or $.07 per share compared to $.8 million or $.12 per share for the same period in 1998. The decreased profitability was due primarily to an unsuccessful sales promotion in March which failed to drive customers into the stores. The Company believes that the March decline was clearly an aberration because comparable store sales were positive in February, 1999 prior to the promotion and continued positive for the two months after the promotion ended. In addition, sales from the catalog business increased 16 percent in the first quarter of 1999 on a 16 percent increase in circulation. 9 Jos. A. Bank Clothiers, Inc. S.E.C.Form 10-Q 5/1/99 The Company continued to pursue its expansion strategy of opening new stores in existing markets and has opened 32 new stores since Spring 1996. The Company expects to open 6 to 8 new stores in 1999 and has opened three through May of 1999 and closed one store whose lease had expired. The Company has 106 stores as of June 1999. The Company's availability under the Credit Agreement increased to $29.2 million as of May 1, 1999, which was $2.7 million higher than the same time last year. Total debt was $4.7 million lower than at the same time last year despite opening the new stores. RESULTS OF OPERATIONS - The following table is derived from the Company's condensed consolidated statements of income and sets forth, for the periods indicated, the items included in the condensed consolidated statements of income, expressed as a percentage of net sales.
Percentage of Net Sales Three Months Ended ---------------------- May 1, May 2, 1999 1998 --------- --------- Net Sales................................................. 100.0% 100.0% Cost of goods sold........................................ 49.3 51.1 ----- ----- Gross profit.............................................. 50.7 48.9 General and administrative expenses....................... 10.0 10.4 Sales and marketing expenses.............................. 38.1 33.8 Store opening costs....................................... 0.1 0.6 ----- ----- Operating income.......................................... 2.5 4.1 Interest expense, net..................................... 0.7 1.0 ----- ----- Income from continuing operations before income taxes.................................... 1.8 3.1 Provision for income taxes ............................... 0.7 1.2 ----- ----- Income from continuing operations......................... 1.1 1.9 Loss from discontinued operations, net.................... -- (0.1) ----- ----- Net income................................................ 1.1% 1.8% ===== =====
NET SALES - Net sales increased approximately 1 percent to $43.6 million in the first quarter of 1999 compared to $43.4 million in 1998. Comparable store sales were down 8 percent for the first quarter, compared to an increase of 5 percent in the first quarter of 1998. The decrease in comparable store sales was due to a new promotion which ran in March and failed to drive traffic into the stores. Comparable store sales were ahead of last year before the March promotion began and continued positive for the two months after the promotion ended. Catalog sales for the first quarter of 1999 were 16 percent higher than the same period last year on a circulation increase of 16 percent. Internet activity which is included in catalog sales has increased significantly as the Company has upgraded its E-Commerce site and has created links with several major portals, including America Online, Inc. and Amazon.com. 10 Jos. A. Bank Clothiers, Inc. S.E.C.Form 10-Q 5/1/99 COST OF GOODS SOLD - Gross profit increased by $.9 million to $22.1 million in the first quarter of 1999 compared to the same period in the prior year. Gross profit as a percentage of sales remained strong and increased 1.8 percent in the quarter. The gross profit improvement was primarily the result of higher maintained margins in nearly all product categories and strong inventory management. Gross profit percent increased in the stores and decreased slightly in the catalog business. GENERAL AND ADMINISTRATIVE EXPENSES - General and administrative expenses decreased to 10.0 percent of sales in the first quarter ended May 1, 1999 compared to 10.4 percent same period in 1998. The decrease relates primarily to reductions in travel expense, insurance and incentive compensation as partially offset by an increase in payroll in store management and the new Corporate Division. SALES AND MARKETING EXPENSES - Sales and marketing expenses increased $1.9 million or 4.3 percent compared to last year due primarily to an increase in marketing expense and higher new store occupancy and payroll costs. The higher marketing expense was primarily attributable to increased radio in April as the Company determined that it was necessary to build momentum of traffic in the stores after the weak March promotion. The higher store occupancy and payroll costs relate to additional stores since the first quarter of 1998. These costs were not adequately leveraged as a result of the poor March performance. STORE OPENING COSTS - Store opening costs decreased $.2 million in the quarter ended May 1, 1999 as the Company opened one new store during the first quarter of 1999 compared to seven new stores opened in the same period in 1998. INTEREST EXPENSE - Interest expense was $.1 million lower during the quarter ended May 1, 1999 compared to the same period in 1998. This improvement was due primarily to a $4.7 million reduction in total debt outstanding at the end of the first quarter of 1999 compared to the end of the first quarter of 1998. INCOME TAXES - At May 1, 1999, the Company had approximately $6 million of tax net operating loss carryforwards (NOLs) which expire in 2010. SFAS No. 109 requires that the tax benefit of such NOLs be recorded as an asset to the extent that management assesses the utilization of such NOLs to be "more likely than not". Realization of the future tax benefits is dependent on the Company's ability to generate taxable income within the carryforward period. Future levels of operating income are dependent upon general economic conditions, including interest rates and general levels of economic activity, competitive pressures on sales and margins and other factors beyond the Company's control. Therefore no assurance can be given that sufficient taxable income will be generated for full utilization of the NOLs. LIQUIDITY AND CAPITAL RESOURCES - At May 1, 1999 the Company had outstanding borrowings of $7.0 million with $29.2 million of availability under its Credit Agreement compared to borrowings of $11.1 million and availability of $26.5 million at the same time last year. The increase in availability was generated principally by cash provided by operating activities during the preceding twelve months and $1 million of additional availability created by higher inventory levels to support the new stores. 11 Jos. A. Bank Clothiers, Inc. S.E.C.Form 10-Q 5/1/99 The following table summarizes the Company's sources and uses of funds as reflected in the condensed consolidated statements of cash flows: Three Months Ended May 1, May 2, 1999 1998 ----------- ---------- Cash provided by (used in): Operating activities $ (1,377) $ (1,818) Investing activities (1,786) (1,550) Financing activities 2,833 3,724 Discontinued operations 397 (243) ------- ------- Net increase in cash and cash equivalents $ 67 $ 113 =========== ======== Cash used by operating activities was due primarily to higher inventory levels to support new stores. Cash used in investing activities relates primarily to build-out costs for new stores and initial payments on the Company's new Point of Sales (POS) system which is to be installed in 1999. Cash provided by financing activities represents primarily borrowings on the revolving portion of the Credit Agreement. The net cash provided by discontinued operations was due primarily to a reduction in the trade receivable partially offset by payments for severance and vacation. The Company expects to spend between $6.5 and $7.0 million on capital expenditures in 1999, primarily to open 6 to 8 new stores in 1999, to relocate or renovate 6 existing stores and install a new POS system and related equipment. The capital expenditures are being financed through operations, the Credit Agreement and fixture leasing arrangements. The Company believes that its current liquidity and its Credit Agreement will be adequate to support its current working capital and investment needs. The Company expects to continue to devote significant efforts for the balance of this year to ensure that its business critical systems are "Year 2000 compliant". The Year 2000 ("Y2K") issue is the result of computer programs using a two-digit format, as opposed to four digits, to indicate the year. Such computer systems will be unable to accurately interpret dates beyond the year 1999, which could cause a system failure or other computer errors, leading to disruptions in operations. The Company has performed an assessment of its systems in order to identify Y2K issues and has identified its business-critical area of exposure to be: (a) merchandising and financial, (b) POS, (c) cash management, (d) catalog, (e) warehouse management, (f) payroll and human resources, and (g) third party relationships. Most of the Company's applications operate on two IBM AS/400 hardware configurations and are"off-the-shelf" packages with modifications and interfaces made by the Company. The Company also relies on personal computers to prepare detailed analysis. The Company believes that by installing the vendor-developed upgrades to the latest versions of its existing systems and re-working its modifications and interfaces, most of the Y2K issues should be corrected. The vendors for the merchandising, general ledger and catalog applications have certified that the updated versions of their systems are Y2K compliant. 12 Jos. A. Bank Clothiers, Inc S.E.C. Form 10Q, 5/1/99 The Company expects to install the latest versions of its systems by the middle of 1999 with Y2K testing performed for each application installed. In accordance with this plan, in August, 1998 the Company installed and implemented the latest version of its merchandising, warehouse, sales audit, accounts payable and general ledger system (which included many upgrades in addition to Y2K compliance). In May 1999, the Company installed the latest version of its Catalog system and the system is operating well. The payroll and human resources system has also been upgraded to a Y2K compliant version. While the current POS system is Y2K compliant, the Company is installing a new POS system which is expected to be installed by August 1999. The Company expects to finalize the related Y2K testing for these applications throughout 1999. The Company has identified certain third parties who supply product to the Company and they do not expect to have any significant disruptions to deliveries as a result of Y2K issues. However, the Company will continue to monitor this situation. The Company has also reviewed its less critical and non-Information Technology areas such as security and phone systems, etc., and has determined that these items are substantially Y2K compliant and does not anticipate any major disruptions. The Company estimates that it will spend approximately $1.0 million (representing a combination of capital and expense) on these upgrades between 1998 and 1999, although an exact amount related to Y2K compliance cannot be measured because many of the upgrades include increased functionality as well as Y2K compliance. The full year 1999 expense is estimated to be approximately $.3 million which is about the same as in 1998. Should these efforts not be successful, the Y2K problems could have a material impact on the operations of the Company. Although there is a high level of confidence that these efforts will be successful, there can be no guarantee that these estimates will be achieved and actual results could differ materially from those anticipated. The Company has not developed a formal contingency plan should any of its critical systems not operate in the Year 2000 and expects to focus on this aspect of the Y2K project in the second half of 1999. The Company's plans and beliefs 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 forecast due to a variety of factors that can adversely affect the Company's operating results, liquidity and financial condition such as risks associated with economic, weather and other factors affecting consumer spending, the mix of goods sold, pricing, availability of lease sites for new stores and other competitive factors. PART II. OTHER INFORMATION Item 6. Exhibits - ------------------ Exhibit 27.0 Financial Data Schedule. 13 Jos. A. Bank Clothiers, Inc S.E.C. Form 10Q, 5/1/99 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: June 14, 1999 Jos. A. Bank Clothiers, Inc. (Registrant) /s/: David E. Ullman ------------------------------------------ David E. Ullman Executive Vice President, Chief Financial Officer 14 EX-27 2 FDS --
5 1000 3-MOS JAN-29-2000 MAY-01-1999 815 0 4,084 0 48,385 60,598 53,500 28,104 88,420 30,950 0 0 0 70 42,736 88,420 43,607 43,607 21,499 21,006 0 0 328 774 302 0 0 0 0 472 0.07 0.07
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