Chicago, IL 3/28/12 (StreetBeat) -- Men's apparel and accessories retailer JoS A Bank Clothiers Inc (Nasdaq:JOSB) said a fall in customer visits andunfavorable weather hurt sales in the current quarter, sending its shares down 10 percent."The first quarter of 2012 has started out more slowly than we had planned with declines in both comparable store sales and direct marketing sales for the first eight weeks of the quarter," said Chief Executive Neal Black, adding that the company was making marketing changes.
JoS A Bank, which sells products ranging from men's tailored suits to shoes and belts, said sales of outerwear and cold weather merchandise fell due to a warmer winter.
The company reported a fiscal 2011 profit of $97.5 million, or $3.49 a share, compared with $85.8 million, or $3.08 a share, last year.
Sales rose 14 percent to $979.9 million.
Analysts, on average, had expected earnings of $3.49 a share, on revenue of $988.7 million for the year, according to Thomson Reuters I/B/E/S.
Shares of the company were trading down 6.5 percent at $50.92 on Wednesday on the Nasdaq. They fell to a low of $49.10 earlier in the session.
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