Upscale men's clothier JoS. A. Bank Clothiers checked in today with a report on its growth plans. The company reported that it cut the proverbial ribbon on its 400th store, which happened to be in the Winter Garden Village of Orlando Florida's Fowler Groves area. In the past 8 years, JOSB has opened more than 300 stores; what's more, it plans to open another 200 stores in the intermediate term, with a goal of 600 locations by 2012.
In 2007 so far, JOSB has opened 29 stores and expects to open 50 by the year's conclusion (sounds like they have a busy November and December ahead of them). Other recent openings have included locations in St. Simons Island, Georgia; Murfreesboro, Tennessee; Milford, Connecticut; and Gilbert, Arizona.
In a company press release, JOSB CEO Robert N. Wildrick noted that We are pleased that our growth program continues to thrive ... since the current management team came together almost eight years ago, we have increased net income every year ... [and] eliminated virtually all of the company's debt...
The stock is up a fraction in early-afternoon trading. Shares have been in a short-term downtrend since mid-September, being forced lower by their 10-day and 20-day moving averages. According to Zacks, JOSB is expected to next report earnings on December 6.