Joining the parade of same-store sales reports this morning, Jos. A. Bank Clothiers said that its September same-store sales rose 1.4%, besting the Street's view for a gain of 1.2% on the month. Total net sales for September rose 8.2% to $49.9 million.
The stock could use some good news, especially after plunging sharply following this week's earnings report. On the sentiment front, JOSB has pessimism in spades, but given the stock's lackluster technical and fundamental performance, this is to be expected. Still, should today's same-store sales figures impress investors, there could be a little rally fuel in the tank. For instance, the stock's short-to-float ratio rests at nearly 49% despite a decline of 17% during September. Should these shorts get squeezed, JOSB could find some buying pressure.