Value-priced menswear retailer S&K Famous Brands Inc has posted a rise in first quarter net income to $1.77 million, up from $1.52 in the same period 12 months ago.

The Virginia-based company also registered a jump in sales to $50.9m for the period, up from $44m in the previous first quarter, and same-store sales growth of 12.9 per cent.

"The 15.9 per cent higher net income in the first quarter resulted from increased customer response to our value pricing strategy as well as significantly improved leverage of expenses," CEO Stewart Kasen said.

S&K operates 241 stores across the United States.