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January 26, 2013
15:11 EDTJOSBJoS. A. Bank: Q4 started slow, cites election and fiscal cliff as distractions
The fourth quarter started out slowly, as the first two weeks of fiscal November were negatively impacted by the aftermath of Hurricane Sandy, the distractions created by the presidential election and the uncertainty of the fiscal cliff. Going into the critical holiday selling season, starting on Black Friday, we believed we had a strong marketing and promotional strategy for the period. However, many of the promotional items and a large part of our holiday assortment were items that sell best in cold weather and the weather was unseasonably warm. Historically, we have had strength with these types of items, but our customers, specifically at our stores, didn't respond as well to our promotional offers as they had in the past.
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