Jos. A. Bank Slips To Loss In Q1 - Quick Facts

(RTTNews) - Jos. A. Bank Clothiers, Inc. (JOSB) Friday said first-quarter net loss was $37.1 million or $1.33 per share, compared to net income of $8.1 million or $0.29 per share in the comparable quarter last year.

Adjusted net income for the latest first quarter rose to $9.2 million or $0.32 per share from $8.1 million or $0.29 per share in the prior year period.

Total sales for the latest first quarter rose to $217.42 million from $196.06 million.

The adjusted earnings per share and adjusted net income for the first quarter of fiscal year 2014 exclude expenses of approximately $75.4 million, or $1.65 per share, of "Strategic Activity Costs," namely fees and expenses related to the company's strategic activities, including a $48.5 million termination fee and expense reimbursement paid to the owner of Eddie Bauer, legal and professional fees and expenses incurred in connection with various merger and acquisition activities and incremental incentive compensation related to the merger transaction with Men's Wearhouse.