Leading retailer of men's classically-styled tailored and casual clothing, Jos A Bank Clothiers Inc, today repoted record second quarter and first half results and raised its full-year earnings guidance.

The Maryland-based operator of 145 stores posted a 224 per cent rise in second quarter net income to $942,000 from $291,000 in 2001, with net sales up 12.5 per cent to $51.9 million from $46.1m in the year-ago period.

For the first half, net income soared 235 per cent to $2.6m from $797,000 while net sales jumped 15.1 per cent to $107.6m from $93.5 million in the year prior.

The company increased its earnings guidance for the full year to $1.35 per diluted share and said that would represent its third consecutive year of record earnings and a 29 per cent increase over the prior year's diluted earnings per share of $1.05.

CEO Robert Wildrick commented: "We are extremely pleased to report another quarter of record earnings that exceeded management's expectations and those of the research analysts that follow the company.

"Our objective is to grow the company at a rate that is aggressive, but also consistent with a fiscally conservative balance sheet and the capabilities of our management team and corporate infrastructure.

"Based on our better-than-expected earnings performance during the first half of this year, strong cash flow projections, and the anticipated opening of 17 new stores during the third and fourth quarters, we have increased our earnings guidance for the second half of FY 2002."

He added: "If sales continue to exceed expectations we will consider a further upward revision of our earnings guidance for the full year."