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Stock Market & Financial Investment News

News Breaks
January 28, 2013
11:53 EDTMW, JOSBJoS. A. Bank tumbles after warning net income set to plunge
Men's suit retailer JoS. A. Bank (JOSB) is sinking after the company announced late Friday night that its FY12 net income would likely drop about 20% compared with the previous year. In FY11 the retailer reported earnings per share, or EPS, of $3.49. Before Friday's announcement analysts had expected the company to report FY12 EPS of $3.76. JoS. A. Bank blamed several factors for the large decline in its earnings, including unseasonably warm weather and Hurricane Sandy, as well as consumer "distractions" from the presidential election and the fiscal cliff. The retailer said it remained very upbeat about its long-term outlook. In late morning trading, JoS. A. Bank tumbled $7.75, or 16.75%, to $38.52. Meanwhile, another suit retailer, The Men's Wearhouse (MW), fell $2.11, or 6.37%, to $31.04.
News For JOSB;MW From The Last 14 Days
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August 20, 2015
09:00 EDTMWMen's Wearhouse selloff a buying opportunity, says Jefferies
Jefferies analyst Edward Plank views the recent selloff in shares of Men's Wearhouse as a buying opportunity. Much of the back-end integration risk from Jos. A. Bank has now passed, and margin improvement should follow, Plank tells investors in a research note. The analyst's FY18 bull case suggests a price target of $100, or 75% upside from current levels, versus a bear case of $47, or 20% downside. He keeps a Buy rating on Men's Wearhouse with a $67 price target.

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