JoS. A. Bank Sees Q4 Adj. EPS Below View - Quick Facts

(RTTNews) - Retailer JoS. A. Bank Clothiers Inc. (JOSB) said that it expects adjusted earnings for the fourth quarter of fiscal 2013 to be about $1.04 to $1.10 per share, compared to $0.98 adjusted earnings per share in the fourth quarter of fiscal 2012. Analysts polled by Thomson Reuters expect the company to report earnings of $1.25 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

The adjusted earnings for the fourth quarter of fiscal year 2013 exclude expenses of approximately $0.04 per share for legal and other professional services related to the Company's acquisition proposal for The Men's Wearhouse Inc. and other strategic activity, and approximately $.03 per diluted share for estimated non-cash asset impairment charges.

Including these adjustments, GAAP earnings for the fourth quarter of fiscal year 2013 are expected to be about $0.97 to $1.02 per share.

"Unfortunately, our post-Christmas clearance sales started slowly and then the snow storms and nationwide deep freeze significantly impacted our business in the final days of December and the first week of January" said Neal Black, President and CEO.

In spite of that, total comparable brand sales for the 13 week fourth-quarter of 2013 versus the comparable period of 2012 were up 1.8% and total sales were up 4.7% during the same period. Total sales for the 13 weeks of the 2013 the fourth-quarter versus the 14 weeks of the 2012 fourth-quarter were up .4%.