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Jos. A. Bank profit drops 11.2% in 3Q; shares tumble
Jos. A. Bank Clothiers Inc. said Wednesday its third-quarter profit took a hit on Hurricane Sandy, additional price markdowns and shoppers being focused more on the presidential election than on new clothes.
The Hampstead-based high-end men’s retailer said net income dropped 11.2 percent to $13.3 million for the three months ended Oct. 27. That was down from $15 million in third quarter 2011.
Earnings per share dropped to 47 cents compared with 54 cents in the third quarter of 2011. The earnings…
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